The Audit Objective That All Transactions and Accounts That Should

question 41

Multiple Choice

The audit objective that all transactions and accounts that should be presented in the financial statements are in fact included is related to which of the PCAOB assertions?

• A)Existence.
• B)Rights and obligations.
• C)Completeness.
• D)Valuation.

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Definitions:

Embryonic Period

A critical phase in development, occurring from fertilization to the end of the eighth week, when the major organs and structures begin to form.

Gestation

The process of fetal development in the womb, from conception to birth, typically lasting around nine months in humans.

Womb

The organ in female mammals in which the embryo or fetus develops until birth; also known as the uterus.

Fetal Period

The stage of development in the womb from the end of the embryonic stage to birth, characterized by rapid growth and maturation of bodily structures.