All of the Following Can Assist the Auditor in Testing

question 32

Multiple Choice

All of the following can assist the auditor in testing the existence assertion for investment securities except:

• A) Physical examination.
• B) Comparing fair value to cost.
• C) Confirmation with the issuer.
• D) Confirmation with the custodian.

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Definitions:

Uncertainty Avoidance

A cultural dimension that describes the extent to which societies tolerate ambiguity and unpredictability.

Autocratic Political System

A form of government where power is concentrated in the hands of a single ruler or a small elite.

Democratic System

A form of government in which power is vested in the people, who rule either directly or through freely elected representatives.

Empowerment

The process of giving individuals or groups more power and control over their lives, which can involve increasing their confidence, skills, and opportunities.