Which of the Following Is Not an Audit Objective of a Commodity

question 162

Multiple Choice

Which of the following is not an audit objective of a commodity department?

• A) All customer accounts are opened and maintained in accordance with the rules and regulations commodity futures trading commission (CFTC) and the various commodity Exchanges
• B) Adequate control exist to ensure the accuracy and propriety of information contained in regulatory reports, such as the commodity futures trading commission form 1-FR, and the focus report
• C) Verify the accuracy and reporting (inventory reports, fail reports, again reports and profit and loss reports.)
• D) None of these

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Definitions:

Specific Stimulus

A particular environmental factor or event that elicits a specific response from an organism.

Spontaneous Recovery

The reappearance of a previously extinguished conditioned response after a pause.

Drug Cravings

Intense desires or urges for the repeated use of substances despite potential negative consequences.

Documentary

A non-fictional film or television show that provides a factual report on a particular subject, often with the goal of informing or educating the audience.