Which of the Following Audit Procedures Does Not Address the Rights

question 51

Multiple Choice

Which of the following audit procedures does not address the rights, presentation and disclosure assertion for pledged, discounted, assigned, and related-party accounts receivable?

• A) Review work performed in other audit areas.
• B) Inquire of management.
• C) Review adequacy of allowance for doubtful accounts.
• D) Review loan agreements.

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Definitions:

Buying Center

A group of individuals within an organization who are responsible for making purchasing decisions, including users, influencers, deciders, approvers, and gatekeepers.

Decider

An individual or group responsible for making the final decision in a purchasing process, often holding the authority to approve significant business transactions.

Routine Orders

Regular or scheduled orders placed by businesses or individuals to ensure a consistent supply of products or services.

Buying Center

A group of individuals within an organization who are involved in making a purchase decision.