An Auditor Has Determined That There Is a High Risk

question 20

Multiple Choice

An auditor has determined that there is a high risk that her client has overvalued inventory.Which audit assertions would require additional testing?

• A)accuracy and existence
• B)allocation and accuracy
• C)accuracy and valuation
• D)valuation and classification

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Definitions:

Orbicularis Oculi

A facial muscle that encircles the eye socket, responsible for closing the eyelids.

Masseter

A facial muscle critical for chewing and biting, located at the angle of the jaw.

Plantar Flexes

The movement that increases the angle between the shin and the top of the foot, pointing the toes downward.

Soleus

A muscle in the calf of the leg that flexes the foot to point the toes downward.