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:

Design Tab

A feature in software applications that provides tools and options for modifying the layout and aesthetics of a document or presentation.

Query

A request for information or data from a database, often written in a specific language like SQL.

Largest Amount

The maximum or highest quantity or degree measured or recorded.

Amount Paid

The total sum of money transferred from one party to another in exchange for goods or services.