Auditors Are Especially Concerned About the ________ and ________ Balance-Related

question 80

Multiple Choice

Auditors are especially concerned about the ________ and ________ balance-related audit objectives because of the potential for understatements in the account balance.

• A) completeness; cutoff
• B) completeness; accuracy
• C) classification; realizable value
• D) classification; cutoff

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Definitions:

Correlate

To establish a mutual relationship or connection between two or more things, often in terms of cause and effect.

Distinctive Unit

A distinctive unit refers to a unique geological or ecological feature that is easily recognizable and sets it apart from surrounding units, often used for mapping and study purposes.

Carbon-14

A radioactive isotope of carbon used in radiocarbon dating to determine the age of organic materials.

Paleozoic Sedimentary Units

Layers or formations of sedimentary rock created during the Paleozoic era, documenting ancient environmental conditions.