If There Is a Risk That Management's Assertion That Recorded

question 10

Multiple Choice

If there is a risk that management's assertion that recorded inventory exists is not valid,the auditor will:

• A)Spend less time testing for the existence of recorded inventory.
• B)Spend more time testing for the completeness of inventory.
• C)Not adjust their audit strategy.
• D)Spend more time testing for the existence of recorded inventory.

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Definitions:

Personal Perspective

An individual's viewpoint or opinion based on their personal experiences and beliefs.

Intangible Elements

Components of value that cannot be touched or physically measured, such as intellectual property, brand reputation, or goodwill.

Ethical View

A perspective based on beliefs about what is right and wrong that influences decision-making and behavior.