A Common Use of Block Testing Is Testing

question 1

Multiple Choice

A common use of block testing is testing

• A)cutoff.
• B)existence.
• C)authorization.
• D)valuation.

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Definitions:

Illegal Act

An action that is forbidden by law and is subject to criminal penalties or civil remedies.

Working Papers

Documents prepared or obtained by auditors during the course of an audit, serving as evidence and supporting the auditor's findings and opinions.

Ownership

The legal right to possess, use, and dispose of property or assets.

Sarbanes-Oxley's Document Retention

Provisions under the Sarbanes-Oxley Act that mandate the retention of financial records and documents to enhance corporate accountability and prevent fraud.