In Order to Meet the Completeness Assertion When Considering a Dual

question 58

Multiple Choice

In order to meet the completeness assertion when considering a dual purpose test, the auditor should:

• A) trace receiving reports and supplier invoices to the accounts payable subsidiary ledger.
• B) agree the amount from the receiving report to the supplier invoice.
• C) agree the amount from the supplier invoice to the accounts payable subsidiary ledger.
• D) Both a and c.

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Definitions:

Loss of Income

The reduction or complete halt of earnings, often due to unemployment, disability, or other circumstances preventing an individual from working.

Racketeer Influenced and Corrupt Organizations (RICO) Act

A United States federal law designed to combat organized crime by enabling the prosecution of criminal organizations for the actions of their members.

Wrongful Act

An action that is illegal or immoral, often leading to harm or injury to another and possibly resulting in legal liability.

Actus Reus

Latin for “guilty act”; a wrongful behavior that is associated with the physical act of a declared crime.