The Auditor Obtained an Aged List of Receivables and Traced

question 61

Multiple Choice

The auditor obtained an aged list of receivables and traced the accounts to the master file, footed the schedule, and traced the amounts to the general ledger. Which balance-related audit objective was met?

• A) existence
• B) cutoff
• C) detail tie-in
• D) all of the above

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Definitions:

Relationships

Connections or associations between two or more entities, ranging from interpersonal to international levels.

Abstract Reasoning

The process of thinking about things in a conceptual or symbolic way, often involving the ability to understand complex concepts and perceive relationships without relying on concrete real-world examples.

Rules And Principles

Fundamental norms that govern behavior and actions within a specific domain or context.

Concrete

A building material made from a mixture of broken stone or gravel, sand, cement, and water, which can be spread or poured into molds and forms a stone-like mass on hardening.