The Following Audit Procedure Tests Primarily Which Balance-Related Audit Objective

question 70

Multiple Choice

The following audit procedure tests primarily which balance-related audit objective for accounts receivable: review the minutes of the board of directors meetings for any indication of pledged receivables.

• A) existence
• B) presentation and disclosure
• C) rights and obligations
• D) both B and C

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Definitions:

Global

Relating to or encompassing the entire world, often used in the context of business, economy, or environmental issues.

Charismatic/Value Based

Leadership that inspires and motivates followers through personal charm, conviction, and the ability to communicate a compelling vision or values.

Transactional Leadership Model

A leadership style focused on the exchanges that occur between leaders and their followers, involving clear structures and rewards for performance.

Assertive Values

The inherent beliefs and standards that promote straightforward, honest communication and stand-up behavior in personal and professional interactions.