Which Balance-Related Audit Objective Is Not Relevant to an Audit

question 61

Multiple Choice

Which balance-related audit objective is not relevant to an audit of prepaid expenses?

• A) rights
• B) accuracy
• C) detail tie-in
• D) realizable value

Interpret and construct crosstabulations and understand their implications in real-world contexts.

Identify and analyze different types of data and their suitable graphical representations.

Calculate and interpret frequency distributions, including cumulative frequencies.

Understand the principles underlying effective graphical display creation.

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Definitions:

Interviewees

Individuals who are being interviewed for a specific role or purpose.

Apparent Authority

The appearance or assumption of authority based on the actions or statements of the principal, leading others to believe that a representative has authority to act.

Ordinary Maintenance

Routine or regular upkeep necessary to maintain the condition or functionality of property or equipment.

Personal Liability

Refers to an individual's legal responsibility for debts or actions, potentially affecting their personal assets.