You Are Auditing a Manufacturing Company That Has a Large

question 15

Multiple Choice

You are auditing a manufacturing company that has a large production facility. Some of the production equipment is held through lease agreements. Which of the following is the account balance assertion you would be most concerned about?

• A)Existence or occurrence.
• B)Completeness.
• C)Rights and obligations.
• D)Accuracy.

---

Definitions:

Cognitive Dissonance

The unease in one's mind resulting from holding multiple inconsistent beliefs, ideas, or values concurrently.

Self-Esteem

Someone's self-assessed value, including their beliefs and emotions about who they are.

Dislike

A feeling of disapproval or antipathy towards something or someone, marking a negative reaction or attitude.

Admiration And Respect

Feelings of high regard and esteem towards someone, often due to their achievements, qualities, or abilities.