The Tests of Details of Balances Procedure That Requires the Auditor

question 1

Multiple Choice

The tests of details of balances procedure that requires the auditor to examine corporate minutes for loan approval would satisfy the audit objective of

• A)classification.
• B)existence.
• C)completeness.
• D)accuracy.

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Definitions:

Cross Section

A diagram representing the geology as a two-dimensional slice through the land. See also geologic cross section.

Cleaved Rocks

Rocks that have been split or sliced along very smooth, flat surfaces, often due to intense pressure.

Unconformity

A boundary between underlying and overlying rock strata representing a significant break or gap in the geologic record; an unconformity represents an interval of nondeposition or erosion, commonly accompanied by uplift.

Intrusive Contact

The boundary between intrusive igneous rocks and the surrounding country rock into which they have intruded.