The Engineering Department at Omni Company Built a Piece of Equipment

question 46

Multiple Choice

The engineering department at Omni Company built a piece of equipment in the company's own shop for use in the company's operations. The auditor reviewed all work orders that were capitalized as part of the equipment costs. Which of the following is the ASB transaction assertion most closely related to the auditor's testing?

• A)Occurrence.
• B)Completeness.
• C)Accuracy.
• D)Classification.

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Definitions:

Quarantining

The placement (by antivirus software) of a computer virus in a secure area on the hard drive so that it won’t spread infection to other files.

Antivirus Software

Software specifically designed to detect viruses and protect a computer and files from harm.

Infected File

A file that has been tainted with a virus or malware, posing a risk to computer security and user data.

Multi-Partite

Pertaining to or involving multiple parties, sides, or factions, often used in the context of graphs or agreements.