Substantive Testing Is Typically Used to Audit Shareholders' Equity Because

question 20

Multiple Choice

Substantive testing is typically used to audit shareholders' equity because:

• A)the number of transactions is small.
• B)controls over shareholders' equity transactions are typically weak.
• C)a reliance strategy is most efficient.
• D)the control environment over shareholders equity transactions is usually strong.

---

Definitions:

Slave From Bondage

A term indicating the liberation of individuals from conditions of slavery or involuntary servitude.

Virginia Slave Code

A set of laws established in the 17th century in Virginia to regulate the interactions between slaves and citizens, legitimizing the institution of slavery.

White Supremacy

A racist ideology based on the belief that white people are superior to those of all other races and should therefore dominate society.

Royal Africa Company

A British chartered company, founded in 1660, involved in the Atlantic slave trade, it held a monopoly on English trade with West Africa.