As Part of Accounts Payable Testing, an Auditor Reviews Cash

question 52

Multiple Choice

As part of accounts payable testing, an auditor reviews cash payments made post balance date. This is done mainly to gain evidence about the:

• A) valuation and allocation assertion.
• B) rights and obligations assertion.
• C) completeness assertion.
• D) existence assertion.

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Definitions:

Universal Wrong

An action or behavior that is considered ethically or morally unacceptable by all cultures or societies.

Aristotle

An ancient Greek philosopher and polymath, a student of Plato and teacher of Alexander the Great, whose works were foundational to Western philosophy.

Human Nature

The inherent characteristics, including ways of thinking, feeling, and acting, that all human beings naturally have.

Moral Arguments

Reasoning that is based on ethical considerations, often discussing what is right and wrong, good and bad.