An Auditor Selected Items for Test Counts While Observing a Client's

question 32

Multiple Choice

An auditor selected items for test counts while observing a client's physical inventory.The auditor then traced the test counts to the client's inventory listing.This procedure most likely obtained evidence concerning management's balance assertion of

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

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Definitions:

Wikis

Collaborative websites that allow users to add, modify, or delete content directly from the browser.

Guaranteed Privacy

The assurance that an individual's personal information will be protected and kept confidential.

Low Cost

Refers to items or services offered at a price lower than the average market rate.

Immediacy

The sense of closeness and presence that helps to create a connection between communicator and audience.