The Auditor Is Testing for the Balance-Related Audit Objective of Detail

question 18

Multiple Choice

The auditor is testing for the balance-related audit objective of detail tie-in when they

• A) prove the schedule of investment activity as to additions and subtractions.
• B) perform a physical inspection of the security.
• C) verify the quoted market prices.
• D) test management's assumptions related to valuation.

---

Definitions:

Middle Class

A social group between the working class and upper class, often characterized by moderate income, education, and professional employment.

Rapid Growth

Rapid growth refers to a quick and significant increase in economic performance, population size, or development in a particular area or sector.

Industrialized Nation

A country whose economy is characterized by the large-scale use of industry and manufacturing technology, leading to high levels of income and development.

Separate Spheres

A gender ideology that emerged in the 19th century, suggesting that men and women have distinct roles, with women belonging in the private domain of home and family, and men in the public sphere of work and politics.