An Auditor Decides to Vouch a Sample of Ledger Entries

question 405

Multiple Choice

An auditor decides to vouch a sample of ledger entries back to their original documentation. In terms of whether all transactions had been recorded, this test would be:

• A) Relevant to the completeness objective.
• B) Irrelevant to the completeness objective.
• C) A more timely test of completeness than evidence from interviews.
• D) A more biased test of completeness than evidence from interviews.

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Definitions:

Duress

Coercion or pressure unlawfully applied to force someone to act in a manner they otherwise would not.

Additional $500

An extra amount of five hundred dollars added to a transaction or financial agreement.

Real Basis

The fundamental or underlying reason or foundation for something.

Reasonable Price

A price that is fair and appropriate for the value of the goods or services offered, often considered in legal and contractual contexts.