An Auditor Determines That There Is an Inherent Risk That

question 38

Multiple Choice

An auditor determines that there is an inherent risk that all stock repurchased is not recorded as treasury stock.This determination is most likely tied to which of the following management assertions?

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

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Definitions:

Unfortunate Background

Unfortunate background refers to adverse circumstances or conditions in a person's life or history, including poverty, lack of education, or family issues.

Deviance Perspective

Theoretical viewpoints in sociology that explain the reasons for deviant behavior and how society responds to such behavior.

Public Consensus

The general agreement or common opinion among a group of people or within the public on a particular issue.

Deviant Behavior

Actions or behaviors that violate societal norms and expectations.