Which of These Is Not True Regarding Substantive Procedurfor Property

question 48

Multiple Choice

Which of these is not true regarding substantive procedurfor property, plant, and equipment in an initial audit:

• A) the auditor concentrates on the current year's transactions only
• B) evidence must be obtained as to the fairness of the opening balances.
• C) evidence must be obtained as to the ownership of the assets.
• D) all of the above are untrue.

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Definitions:

Neurocognitive Disorder

A condition marked by a significant decline in one’s cognitive function, affecting memory, attention, learning, and other mental abilities.

Cognitive Impairment

A reduction in cognitive functions such as memory, decision-making, and attention, interfering with day-to-day activities.

Cyberbullying

The use of e-mail, texting, chat rooms, cell phones, or other digital devices to harass, threaten, or intimidate people.

Major Neurocognitive Disorder

A neurocognitive disorder in which the decline in cognitive functioning is substantial and interferes with the ability to be independent.