The Auditor Recomputed the Dividend Declaration Amount by Multiplying the Declared

question 48

Multiple Choice

The auditor recomputed the dividend declaration amount by multiplying the declared dividend per share by the number of shares outstanding.Which audit assertion is this associated with?

• A)completeness
• B)accuracy
• C)valuation
• D)existence

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Definitions:

Controllability

The principle that managers should be held accountable only for those aspects of performance that they can influence or control.

Real-Time Reporting

The process of providing immediate updates and financial information as events occur, allowing for timely decision-making and analysis.

Virtual Close

A method allowing companies to quickly estimate their financial position at any given time without waiting for the formal closing process.

Flash Reporting

A type of financial report that provides an immediate snapshot of a company's financial condition, often used for internal decision-making purposes.