The Auditor Is Reviewing the Receivables Listed on the Aged

question 83

Multiple Choice

The auditor is reviewing the receivables listed on the aged trial balance for notes and related party receivables. Which balance-related audit objective is he trying to satisfy?

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

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Definitions:

Government Spending

All expenditures made by government agencies on goods, services, and projects to achieve economic and social goals.

Tax Revenue

The revenue collected by governments from taxes, which finances public services and government commitments.

Treasury Bonds

Treasury bonds are long-term government debt securities issued by the Department of the Treasury with a maturity of more than ten years.

Federal Budget

The government's estimate of revenue and expenditure for a forthcoming fiscal year.