The Audit Objective That Requires the Auditor to Determine That

question 24

Multiple Choice

The audit objective that requires the auditor to determine that notes payable on the notes payable schedule are properly classified can be tested by performing the procedure to

• A) confirm notes payable.
• B) examine corporate minutes for loan approval.
• C) examine notes, minutes, and bank confirmations for restrictions.
• D) review the notes to determine whether any are with related parties.

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Definitions:

Ethical Communicator

Someone who is honest, clear, accurate, and considers the welfare of others when conveying messages.

Ethics

The beliefs, values, and moral principles by which a person determines what is right or wrong.

Communication Model

A theoretical framework that describes how messages are sent and received, including components like sender, message, medium, receiver, and feedback.

Sender And Receiver

Terms used in communication theory to describe the parties involved in transmitting and receiving a message, respectively.