Which of the Following Audit Procedures Would Not Likely Be

question 80

Multiple Choice

Which of the following audit procedures would not likely be performed for audits of investments?

• A)Read board of directors' minutes for authorization of investment strategies.
• B)Confirm investments with registrar.
• C)Confirm investments with broker or trustee.
• D)Compare valuation to published market prices.

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Definitions:

Rough ER

A form of endoplasmic reticulum that is studded with ribosomes and involved in protein synthesis.

Golgi Apparatus

A cell organelle that modifies, sorts, and packages proteins and lipids for secretion or use within the cell, playing a key role in cell transport.

Lysosomes

Organelles in eukaryotic cells containing digestive enzymes, responsible for breaking down waste materials and cellular debris.

Mitochondria

Cell organelles responsible for the production of ATP, the energy currency of the cell, through the process of cellular respiration.