In the Revenue Business Process,the Auditor Gathers Evidence to Evaluate

question 78

Multiple Choice

In the revenue business process,the auditor gathers evidence to evaluate management's assertions about presentation and disclosure of the accounts in the revenue process.These assertions are

• A)occurrence and rights and obligation - financial information and all other information is disclosed fairly and at appropriate amounts
• B)cutoff and existence - disclosed events and transactions have occurred in the appropriate period
• C)completeness -all disclosures that should have been made have been made
• D)classification and understandability - financial information is appropriately presented and described
• E)accuracy and valuation - disclosed events and transactions have occurred and pertain to the company
• F)both A and B
• G)both C and D

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Definitions:

Libel

A written defamation or false statement that damages someone's reputation, as opposed to slander, which is spoken defamation.

Prior Restraint

A legal doctrine that prohibits governmental institutions from stopping the publication of materials, reinforcing freedom of the press, except under extraordinary circumstances.

Supreme Court

The highest federal court in the United States, charged with interpreting the Constitution and reviewing the legality of legislative acts.

Symbolic Speech

Actions that purposefully convey a particular message or statement to those observing it, recognized by the courts as a form of free speech.