The Existence Assertion Is Audited By

question 13

Multiple Choice

The existence assertion is audited by:

• A) tracing transactions from the payroll master file to the payroll register.
• B) tracing transactions from the payroll register to the source documents.
• C) tracing transactions from the bank statement to the general ledger.
• D) Answers A & B only.

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Definitions:

Total Indicated Runout (TIR)

A measurement of the deviation of a mechanical part from its ideal shape, indicating the total variation from roundness or straightness.

Shaft Revolution

The number of rotations that a shaft completes in a given period of time, often measured in revolutions per minute (RPM).

Permissable Operating Angles

The maximum angles at which certain mechanical components, such as driveshafts, can operate without causing damage or undue wear.

Driveshaft Rpm

Driveshaft Rpm (Revolutions per Minute) measures the rotational speed of the driveshaft in a vehicle, indicating how many times the shaft completes a full rotation in one minute.