The Results of Tests of Controls and Substantive Tests of Transactions

question 9

True/False

The results of tests of controls and substantive tests of transactions affect the design of tests of details of balances.

---

Definitions:

Assignment of Rights

The transfer of rights held by one party to another party.

Contract

A pact among two or more parties that holds legal force and is binding.

Duty

An obligation or responsibility imposed by law, moral guidelines, or codes of conduct that requires a person or entity to act or refrain from acting in a certain way.

Assignable

Capable of being transferred from one party to another, typically referring to rights or property.