You Are the In-Charge Auditor and Are Designing Audit Procedures

question 3

Multiple Choice

You are the in-charge auditor and are designing audit procedures for accounts payable.Which of the following management assertions would you normally be most concerned about?

• A)Occurrence
• B)Accuracy
• C)Completeness
• D)Existence

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Definitions:

Vote Trading

A strategy where individuals or parties exchange support for each other's preferred choices or policies, often seen in political contexts.

Legislators

Elected officials who have the authority to make or amend laws.

Biased Toward Actions

A tendency to favor taking action or to be inclined towards doing something rather than inaction.

Current Costs

The present-day costs of goods and services, not adjusted for inflation.