The Audit Objective of Presenting All Transactions and Accounts in the Financial

question 48

Multiple Choice

The audit objective of presenting all transactions and accounts in the financial statements are in fact included is related to which of the PCAOB assertions?

• A) Existence.
• B) Rights and obligations.
• C) Completeness.
• D) Valuation.

---

Definitions:

Utility

A measure of satisfaction, usefulness, or value that an individual or society derives from a good or service.

Consuming

The act of using up goods or services either by purchasing or utilizing them.

Maximizing

Seeking to make as large as possible; in economics, often involves actions like profit maximization or utility maximization.

Daisy

A common name for a variety of flowering plants in the family Asteraceae, known for their simple yet appealing appearance.