The Test of Details of Balance Procedure Which Requires the Auditor

question 107

Multiple Choice

The test of details of balance procedure which requires the auditor to inquire of management for the possibility of the inclusion of consigned or other non-owned inventory is associated with which audit objective?

• A) rights
• B) completeness
• C) existence
• D) realisable value

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Definitions:

Fluid

A substance that has no fixed shape and yields easily to external pressure; a gas or (especially) a liquid.

Joint

The point at which two bones are connected, allowing for movement and support.

Contracture

An abnormal tightening or shortening, often resulting in a deformity.

Right Ankle

Refers to the joint connecting the foot with the leg on the right side of the body.