LMartinez,CPA,was Auditing a Client,Marvelous Retail Company and Selected a Sample

question 77

Multiple Choice

L.Martinez,CPA,was auditing a client,Marvelous Retail Company and selected a sample of inventory items from the perpetual records and vouched additions to receiving reports.This procedure was intended to satisfy which POCAOB assertion?

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

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Definitions:

Kansas-Nebraska Act

A 1854 law that created the territories of Kansas and Nebraska and allowed the settlers to decide on the legality of slavery within the territories.

Republican Party

One of the two major political parties in the United States, traditionally associated with conservative and right-leaning policies.

Political Party

An organized group of people with similar political aims and opinions, seeking to influence public policy by getting its candidates elected to public office.

Joshua Giddings

A prominent 19th-century American abolitionist who served as a U.S. Representative and was known for his strenuous opposition to slavery.