While Undertaking the Audit of the Debtors' Balance, You Use

question 80

Multiple Choice

While undertaking the audit of the debtors' balance, you use your audit software to extract from the accounts receivable master file a report which shows those debtors with a positive balance owing that is overdue by more than 30 days. At
Which of the following account balance assertions is this report aimed?

• A) Completeness.
• B) Valuation and allocation.
• C) Occurrence.
• D) Existence.

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Definitions:

Photosynthesis

The process by which green plants, algae, and certain bacteria transform light energy into chemical energy, using carbon dioxide and water to produce glucose and release oxygen.

Chloroplasts

Chloroplasts are organelles found in plant and algal cells that conduct photosynthesis, converting light energy into chemical energy stored in sugar molecules.

Solar Energy

Energy from the Sun that is converted into thermal or electrical energy, a renewable and sustainable source of power.

Mitochondria

Organelles found in the cytoplasm of eukaryotic cells that generate most of the cell's supply of adenosine triphosphate (ATP), used as a source of chemical energy.