The Auditor Identifies the Specific Audit Objective: "Determine That Property

question 70

Multiple Choice

The auditor identifies the specific audit objective: "determine that property, plant and equipment (PPE) assets represent productive assets that are in use at balance date". This objective is derived from the

• A) existence assertion.
• B) completeness assertion.
• C) presentation assertion.
• D) rights and obligations assertion.

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Definitions:

Feasibility Study

An analysis and evaluation of a proposed project to determine if it is technically feasible, financially viable, and legally permissible.

Completeness

The state or condition of having all parts or elements; lacking nothing.

Speed

The rate at which someone or something is able to move or operate.

Vivid Vision

A clear and compelling detailed description of what you want your business or organization to look like in the future.