The Tests of Details of Balances Procedure Which Requires the Auditor

question 55

Multiple Choice

The tests of details of balances procedure which requires the auditor to examine notes paid after year-end to determine whether they were liabilities at the balance sheet date is an attempt to satisfy the audit objective of

• A) existence.
• B) completeness.
• C) accuracy.
• D) classification.

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Definitions:

Low Air Pressure

A condition where there is an insufficient amount of air within a pneumatic system or tire, which can affect performance.

Psi

Psi stands for pounds per square inch, a unit of pressure used to measure the force exerted per unit area.

Dryer Purge Valve

A component of a vehicle's air brake system, specifically in the air dryer, that releases moisture and contaminants to prevent them from entering the brake system.

Electrical Supply

The provision of electrical power to a device or system, which can be AC (Alternating Current) or DC (Direct Current) sourced from the grid, batteries, or generators.