When Reviewing a Loan Agreement to Ascertain Whether the Bank's

question 22

Multiple Choice

When reviewing a loan agreement to ascertain whether the bank's security over any of the client's assets has been included in the financial report, the audit assertion being achieved is:

• A)valuation and allocation.
• B)completeness.
• C)presentation and disclosure-accuracy and valuation.
• D)presentation and disclosure-completeness.

---

Definitions:

Sales Strategy

A planned approach to selling products or services with the aim of achieving consistent, long-term sales growth.

Excess Demand

Occurs when the quantity demanded of a good or service exceeds the quantity supplied at a given price, often leading to shortages.

Upward Pressure

Describes a situation in financial markets or economies where there is a force or trend leading to an increase in prices or rates.

Demand Curve

A graph representing the relationship between the quantity of a good that consumers are willing and able to purchase and its price.