Which of the Following Audit Objectives Relates Primarily to the Financial

question 35

Multiple Choice

Which of the following audit objectives relates primarily to the financial report assertion of presentation and disclosure-classification and understandability?

• A)Inventories are included in the statement of financial position as current assets.
• B)Inventories exclude items billed to customers or owned by others.
• C)Inventories are included in the statement of financial position at the lower of cost and net realisable value.
• D)Inventory quantities include all products, materials and supplies owned by the company that are in transit.

---

Definitions:

Dopamine

A neurotransmitter in the brain that plays a crucial role in regulating movement, mood, motivation, and the sensation of pleasure.

Neurotransmitter

Chemical substances produced in the nervous system that transmit signals across a synapse from one neuron to another.

Coordinated Function

The harmonized operation of different components or systems working together to achieve a common goal.

Dementia

A category of brain diseases that cause a long-term and often gradual decrease in the ability to think and remember, significantly impacting daily functioning.