If the Auditor Is Testing Long-Lived Asset Account Balances to See

question 55

Multiple Choice

If the auditor is testing long-lived asset account balances to see if they include all relevant transactions that have taken place during the period,what is the primary assertion being tested?

• A)Presentation and disclosure.
• B)Existence.
• C)Completeness.
• D)Valuation.

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Definitions:

Behavior

The way in which one acts or conducts oneself, especially towards others.

Orientation

The direction or position relative to the points of a compass or other specific directions.

Culture

The shared beliefs, practices, norms, values, and artifacts that characterize a group of people or a society.

Values

The principles or standards of behavior that are regarded as important and worthwhile by individuals or groups within a society.