The Classification Balance-Related Audit Objective

question 115

Multiple Choice

The classification balance-related audit objective

• A)involves determining if items included on a client's listing are included in the correct general leger accounts.
• B)is the counterpart to the management assertion of completeness.
• C)involves determining if items included on a client's listing are disclosed properly in the financial statements.
• D)involves tying in the account balances to the general ledger.

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Definitions:

Offshore Drilling

The mechanical process of drilling below the seabed for the extraction of oil and gas resources.

Federal Agencies

Organizations within the government of the United States that are tasked with the administration of specific legislation and the execution of laws and policies.

Legislative Committee

A group within a legislative body charged with examining issues related to specific subjects and recommending legislation.

Executive Agency

A part of the government under the executive branch, responsible for enforcing laws and regulations within specific areas.