The Audit Objective That All the Transactions and Accounts Presented

question 21

Multiple Choice

The audit objective that all the transactions and accounts presented in the financial statements represent real assets, liabilities, revenues, and expenses is related most closely to which of the PCAOB assertions?

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

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Definitions:

Frequency

The rate at which something occurs over a particular period or in a given sample.

Reach

The extent to which a product, service, or advertisement is seen and recognized by customers.

Pretests

Tests conducted before implementing a strategy or launching a product to assess its effectiveness or potential impact.

Publicity Tools

Various methods and media used to promote and publicize a product, service, or event to the public and enhance its public image.