If the Auditor Is Testing Long-Lived Asset Account Balances to See

question 33

Multiple Choice

If the auditor is testing long-lived asset account balances to see if they include all relevant transactions that have taken place during the period, what is the primary assertion being tested?

• A) Presentation and Disclosure.
• B) Existence.
• C) Completeness.
• D) Valuation.

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Definitions:

Goal-Setting Theory

A psychological theory that suggests specific and challenging goals along with appropriate feedback contribute to higher and better task performance.

Rewards

Benefits, either tangible or intangible, given in recognition of one's service, effort, or achievement.

Goal Accomplishment

The achievement of pre-set objectives within a specified time frame.

Self-Efficacy Theory

A psychological theory that suggests individuals' belief in their ability to succeed affects their motivation and performance in tasks.