Which of the Following Is an Attestation Standard Under the Standards

question 7

Multiple Choice

Which of the following is an attestation standard under the standards of reporting?

• A)The practitioner must have adequate technical training.
• B)The practitioner must adequately plan the work.
• C)The practitioner must evaluate internal controls.
• D)The practitioner must identify the subject matter or assertion being reported on.

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Definitions:

Purchases Journal

A record that specifically tracks all purchase transactions made by a business, often used in a manual accounting system.

Cash Payments Journal

A special journal used in accounting to record all transactions that involve payments made by a company.

Supplies

Supplies refer to items consumed or used in the day-to-day operations of a business, often not directly linked to the products being sold.

Advance Payment

Advance Payment is the money paid before it is due or before the goods or services are received, often used to secure orders or as a guarantee against non-payment.