An Auditor Most Likely Would Inspect Additions to the Audit

question 120

Multiple Choice

An auditor most likely would inspect additions to the audit client's Property,Plant,and Equipment account to obtain evidence concerning management's assertions about

• A) Existence or occurrence.
• B) Rights and obligations.
• C) Presentation and disclosure.
• D) Valuation or allocation.

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Definitions:

Ownership Percentage

The fraction of an investment or business enterprise owned by an individual or entity, usually expressed as a percentage.

Bud Ltd.

is not a universally recognized key term; it might refer to a specific entity or business and its significance might vary by context. NO.

Equity Method

An accounting technique used to record investments in other companies where the investor has significant influence but does not control the company outright.

Consolidation Method

An accounting technique used for combining the financial statements of subsidiary companies with the parent company.