The Overall Objective in the Audit of the Acquisition and Payment

question 101

Multiple Choice

The overall objective in the audit of the acquisition and payment cycle is:

• A) to ensure the reliability of the affected accounts.
• B) to ensure the accuracy of the affected accounts.
• C) to evaluate whether the affected accounts are fairly stated in accordance with accounting standards.
• D) to evaluate whether fraudulent payments were made.

---

Definitions:

Younger Adults

Individuals typically in their late teens to late 30s, considered to be in an early stage of adulthood.

Events

Occurrences or happenings that are noteworthy.

Brain

The organ of the body in the head that controls functions, movements, sensations, and thoughts.

Interference Theory

A theory explaining how new information can interfere with the retrieval of old information from memory.