Which of the Following Substantive Procedures Would Not Ordinarily Be

question 19

Multiple Choice

Which of the following substantive procedures would not ordinarily be used by auditors in evaluating the potential existence of subsequent events?

• A)Reviewing the latest interim financial statements.
• B)Performing cut-off testing near year end.
• C)Inquiring of officers and other client executives.
• D)Obtaining written representations.

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Definitions:

Strip Mall

A retail location consisting of a cluster of neighborhood stores to serve people who are within a 5- to 10-minute drive.

Central Business District

The oldest retail setting, usually located in the community’s downtown area.

Old-Town District

An area within a city known for its historical architecture and often sought after for cultural, tourism, and commercial activities.

Outlet Stores

Retail establishments that sell products directly from manufacturers at reduced prices.