The Auditor Traces Items from the Source Documents to the Journals

question 33

Multiple Choice

The auditor traces items from the source documents to the journals in order to accumulate audit evidence that will satisfy the

• A) existence objective.
• B) completeness objective.
• C) ownership objective.
• D) valuation objective.

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Definitions:

Freedom To Farm Act

A law passed in 1996 in the United States designed to phase out certain agricultural subsidies and give farmers more planting flexibility.

Transition Payments

Payments made to individuals or companies to facilitate adjustment to a new economic condition or policy.

Price Supports

Government interventions or policies to maintain the price of a commodity at a certain level to protect producers from price fluctuations.

Food, Conservation, And Energy Act

A comprehensive piece of legislation passed in the United States that governs agricultural and food policy, aimed at promoting conservation, energy efficiency, and food security.