The Test of Details of Balance Procedure Which Requires the Auditor

question 119

Multiple Choice

The test of details of balance procedure which requires the auditor to perform tests of lower of cost or market, selling price, and obsolescence is an attempt to satisfy the objective of

• A) existence.
• B) completeness.
• C) accuracy.
• D) realizable value.

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Definitions:

Atlatl

A tool used to throw spears or darts with greater force and distance than could be achieved by the human arm alone, employed by various ancient cultures.

Burin

A type of stone tool with a chisel-like edge, primarily used in carving or engraving hard materials during prehistoric times.

Flakes

Small, thin pieces of something, typically broken off from a larger piece, often used in reference to stone tool production in archaeology.

Breeding Population

A group of organisms of the same species that interbreed and produce fertile offspring in a particular geographic area.