The Substantive Audit Procedure "Confirm Outstanding Common and Preferred Shares

question 30

Multiple Choice

The substantive audit procedure "confirm outstanding common and preferred shares with share registrar agent" provides evidence for which of the following assertion(s) ?

• A)Presentation and ownership.
• B)Completeness,valuation,and presentation.
• C)Existence,completeness,and ownership.
• D)Existence only.

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Definitions:

Value Capture

The process of retaining a portion of the value provided in every transaction, often seen in business and economic models.

Large Purchases

Transactions involving the acquisition of a substantial volume of goods or services, often resulting in economies of scale or bulk discounts.

Innovative

Relating to the introduction of new ideas, methods, or products.

Demand Elasticity

An indicator of the extent to which the demand for a product or service shifts as a result of variations in its price.