Your Audit Client Is Under Intense Pressure to Meet an Earnings

question 56

Multiple Choice

Your audit client is under intense pressure to meet an earnings target. Which transaction assertion for transactions within the purchasing process are you most concerned with?

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

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Definitions:

Total Row

A feature in spreadsheets and databases that automatically calculates the sum, average, or other statistical measures for a range of cells or values.

Split Cells

A feature in spreadsheet and table management software that divides a cell into multiple cells, either horizontally or vertically.

Merge Cells

The process of combining two or more adjacent cells in a spreadsheet or table into a single cell, often for formatting or to make headings clearer.

Text Direction

An option in word processing and graphic design software that allows for the orientation of text to be adjusted vertically or horizontally.