In Testing the Existence Assertion for an Asset, an Auditor

question 52

Multiple Choice

In testing the existence assertion for an asset, an auditor ordinarily works from the:

• A) Financial statements to the potentially unrecorded items.
• B) Potentially unrecorded items to the financial statements.
• C) Accounting records to the supporting evidence.
• D) Supporting evidence to the accounting records.

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Definitions:

Motor Skills

Abilities that involve the use of muscles to perform movements, usually categorized into fine (small movements, like writing) and gross (larger movements, like walking) motor skills.

Gross Motor Skills

Physical abilities involving large muscle movements such as walking, running, jumping, and throwing.

Category Of Vehicles

A classification of various types of transportation means, such as cars, trucks, bicycles, and boats, based on shared characteristics.

Increased Myelination

The process by which the myelin sheath, a protective covering of nerve cells, thickens and increases, enhancing neural transmission.