When the Auditor Used the Audit Procedure Vouching She Is

question 11

Multiple Choice

When the auditor used the audit procedure vouching she is primarily concerned with which of the following assertions?

• A) Completeness.
• B) Existence.
• C) Authorization.
• D) Classification.

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Definitions:

Federal Reserve Board

Governs the Federal Reserve System, the central banking system of the United States, and oversees the nation's money supply and banking industry.

Money Laundering

The illegal process of making large amounts of money generated by a criminal activity, such as drug trafficking or terrorist funding, appear to be earned legally.