The Auditor Is Determining That the Recorded Sales Are for the Amount

question 89

Multiple Choice

The auditor is determining that the recorded sales are for the amount of goods shipped are correctly billed and recorded. She is gathering evidence about which transaction related audit objective?

• A) existence
• B) completeness
• C) accuracy
• D) cut-off

---

Definitions:

IFRS

International Financial Reporting Standards, which are international accounting guidelines for preparing financial statements.

Lessee

A person or entity that leases an asset from another, acquiring the right to use the asset for a specified period in exchange for periodic payments.

Revenue Recognition

The accounting principle that determines the specific conditions under which revenue is recognized or accounted for.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide the preparation of financial statements globally.