The Auditor Is Determining That the Correct Selling Price Was

question 44

Multiple Choice

The auditor is determining that the correct selling price was used for billing and that the quantity of goods shipped was the same as the quantity billed. She or he is gathering evidence about which transaction-related audit objective?

• A) existence
• B) completeness
• C) accuracy
• D) cut-off

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Definitions:

Acid Salt

A type of salt that contains an ionizable hydrogen atom, allowing it to act as an acid under suitable conditions.

Soluble

Ability of a substance to dissolve in a solvent, forming a homogeneous mixture at a molecular or ionic level.

Sodium Chloride

Common salt; an ionic compound with the formula NaCl, essential for life and used in food seasoning and preservation.

Soluble

The ability of a substance to dissolve in a solvent, forming a solution.