Which of the Following Would Not Be Considered Audit Evidence

question 64

Multiple Choice

Which of the following would not be considered audit evidence?

• A)the information in the accounting notes
• B)the records of initial entries
• C)supporting documents
• D)general and subsidiary ledgers of the company

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Definitions:

Market Price

The current exchange rate for a service or asset in the open market.

Zero-Coupon Bonds

Bonds that do not pay periodic interest and are sold at a discount from their face value, with the full face value being repaid at maturity.

Yield To Maturity

The total return anticipated on a bond if it is held until the date of its maturity, expressed as an annual rate.

Zero-Coupon Bonds

Bonds that do not pay interest during their lifetime but are issued at a discount to their face value, thus generating profit at maturity.