For Which of the Following Objectives Would Auditors Be Least

question 57

Multiple Choice

For which of the following objectives would auditors be least likely to use analytical procedures in the completion stages of the audit?

• A) Obtaining evidence about assertions related to account balances or classes of transactions.
• B) Evaluating the adequacy of evidence gathered in response to unexpected account balances.
• C) Identifying unusual or unexpected account balances or relationships among account balances that were not identified during the audit.
• D) Evaluating the adequacy of evidence gathered in response to unexpected relationships among account balances.

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Definitions:

Par Value

The nominal or face value of a bond, share of stock, or coupon as stated by the issuer, which is often a minimal amount that bears no relation to its market price.

Common Stock

Shares representing ownership in a corporation, entitling holders to a portion of the company's profits through dividends and voting rights.

Acquisition

The process of obtaining control of another corporation or asset, through purchase or merger.

Consolidated Land

A combination of parcels of land owned by a single entity, especially after acquisition or as a result of business consolidation, for accounting or development purposes.