The Main Focus Taken by the Auditor in Verifying Liability

question 71

Multiple Choice

The main focus taken by the auditor in verifying liability balances is on the discovery of I. understated liabilities.
II) omitted liabilities.

• A) I only
• B) II only
• C) both I and II
• D) neither I nor II

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Definitions:

Psychodynamic Ideas

Concepts related to the psychological forces that underlie human behavior, feelings, and emotions, notably those that are unconscious.

Defensive Pessimism

A cognitive strategy where an individual sets low expectations for their performance, regardless of their actual ability, to prepare mentally for any possible outcome.

Conscious Mind

The aspect of mental processing that involves awareness of thoughts, feelings, and perceptions in the present moment.

Unconscious Mind

The part of the mind that contains thoughts, memories, and desires not immediately accessible to conscious awareness.