Which of the Following Is Generally Not Included in the "Evidence

question 19

Multiple Choice

Which of the following is generally not included in the "evidence mix"?

• A) Tests of Controls
• B) Substantive Tests of Transactions
• C) Risk Assessment Procedures
• D) Tests of details of balances

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Definitions:

Double-Entry Accounting

A system of bookkeeping where every entry to an account requires a corresponding and opposite entry to a different account.

Debits

Accounting entries that represent an increase in assets or expenses or a decrease in liabilities, equity, or revenue.

Credits

Recognition or acknowledgment for something received or accomplished, often used in finance to denote money received or a decrease in liabilities.

Liabilities

Liabilities are financial obligations or debts that a company owes to others, which need to be settled over time through the transfer of economic benefits including money, goods, or services.