The Auditor Traces Items from the Source Documents to the Journals

question 33

Multiple Choice

The auditor traces items from the source documents to the journals in order to accumulate audit evidence that will satisfy the

• A) existence objective.
• B) completeness objective.
• C) ownership objective.
• D) valuation objective.

---

Definitions:

Forethought

The act of thinking and planning activities or events in advance, demonstrating anticipation and careful consideration.

Low-involvement Products

Goods or services that require minimal thought and effort from consumers before purchase due to their low cost or risk, such as everyday household items.

In-store Promotions

Marketing activities designed to stimulate sales directly within a retail location.

High-involvement Products

Products that carry a high purchase risk or are expensive, thus requiring more thought, research, and comparison from consumers before making a purchase decision.