The Effect of a Violation of the Completeness Transaction-Related Audit

question 52

True/False

The effect of a violation of the completeness transaction-related audit objective for cash disbursements transactions would be an overstatement of cash disbursements.

---

Definitions:

Criminal Conduct

Engaging in actions or behaviors that are prohibited by law and punishable by the state.

Leasehold

An interest or estate in real property granting possession to the lessee (or tenant) for a certain predefined period, under a lease agreement.

Bailment

Bailment is a legal relationship in which physical possession of personal property is transferred from one party to another, with the understanding that the property will be returned.

Possessory

Related to or concerned with the possession of property or assets, often within legal contexts.