The Auditor Has Elected to Conduct the Following Audit Tests

question 76

Multiple Choice

The auditor has elected to conduct the following audit tests: reperform addition of the aged accounts receivable trial balance for the total column and for the columns depicting the aging.Which audit objective is associated with these audit tests?

• A)valuation
• B)classification
• C)accuracy
• D)occurrence

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Definitions:

Property Owners

Individuals or entities that hold legal title to a piece of real estate, giving them certain rights, such as the right to occupy, use, modify, and sell the property.

Premises Liability

The legal responsibility of property owners for accidents and injuries that occur on their property due to their negligence.

Possessors

Individuals or entities that have control over or hold property, but do not necessarily own it.

Real Estate

Property consisting of land and the buildings on it, along with its natural resources.