The Audit Objective That Footnotes in the Financial Statements Should

question 54

Multiple Choice

The audit objective that footnotes in the financial statements should be clear and expressed such that the information is easily conveyed to the readers of the financial statements is related most closely with which of the ASB presentation and disclosure assertions?

• A)Occurrence.
• B)Rights and obligations.
• C)Comprehensibility.
• D)Understandability.

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Definitions:

10-year-old Girl

A female child or individual who is ten years of age.

Relate to Others

The ability to understand, empathize, and connect with different individuals or groups.

Social Nature

The inherent tendency of humans to form relationships, interact with others, and function within societal structures.

Aggression

Behavior intended to harm or injure another being who is motivated to avoid that treatment.