Which of the Following Audit Procedures Would Not Likely Be

question 42

Multiple Choice

Which of the following audit procedures would not likely be performed for audits of shareholders' equity?

• A)Read board of directors' minutes for authorization of equity transactions.
• B)Confirm outstanding common and preferred stock with stock registrar.
• C)Compare valuation of stock to published market prices.
• D)Obtain management representation about number of shares issued and outstanding.

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Definitions:

Soft Skills

Interpersonal attributes and personality traits that enhance an individual's interactions, job performance, and career prospects, including communication, teamwork, and problem-solving skills.

People Skills

The range of interpersonal and communication skills that enable individuals to work effectively with others, manage conflicts, and build positive relationships.

Managing Conflict

The process of identifying and addressing differences that could lead to negative outcomes in a constructive and positive manner.

Self-Awareness

The conscious knowledge of one's own character, feelings, motives, and desires.