In an Effort to Satisfy the Completeness Objective,the Auditor Could

question 48

Multiple Choice

In an effort to satisfy the completeness objective,the auditor could perform which of the following test of details of balance procedures?

• A)Trace the book balance on the reconciliation to the general ledger.
• B)Trace outstanding cheques to subsequent period bank statements.
• C)Obtain and test a cutoff bank statement.
• D)Review financial statements to make sure that material savings accounts and certificates of deposit are disclosed separately.

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Definitions:

Disharmony

A state of conflict or disconnection among elements that are meant to work together, often leading to dysfunction or imbalance.

Yin/Yang Theory

A fundamental concept in Chinese philosophy and culture, describing how opposite or contrary forces are interconnected and complementary in the natural world.

Tao

A fundamental concept in Chinese philosophy and religion, usually translated as "the Way," denoting the natural order or a principle that is the source of everything.

Assimilation

The process of integrating new information into existing cognitive structures or knowledge.