The Auditor Has Determined Exchange Rates Used by the Client

question 32

Multiple Choice

The auditor has determined exchange rates used by the client to present cash in foreign currencies and has recalculated the amounts.Which audit assertion is associated with this audit procedure?

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

---

Definitions:

Conscious Experience

The awareness of one's own thoughts, feelings, and surroundings, which encompasses various cognitive processes and states of mind.

Wilhelm Wundt

Wilhelm Wundt is often regarded as the father of psychology; he established the first psychological laboratory in Leipzig, Germany, in 1879, marking the formal beginning of psychology as a separate science.

Scientific Study

A systematic investigation and analysis of materials and sources in order to establish facts and reach new conclusions.

Observable Behaviour

Observable behaviour refers to actions and reactions that can be seen and measured, usually in the context of behavior analysis or psychology.