In Assessing Control Risk for Purchases,an Auditor Vouches a Sample

question 8

Multiple Choice

In assessing control risk for purchases,an auditor vouches a sample of entries in the accounts payable trial balance to the supporting documents.Which account assertion would this test of controls most likely support?

• A)Completeness.
• B)Existence or occurrence.
• C)Valuation or allocation.
• D)Presentation

---

Definitions:

Private Sector Unionization

The process or state of organizing workers into unions within privately owned businesses, as opposed to public sector or government employees.

Conspiracy Doctrine

A legal theory that views a combination of workers for the purpose of demanding better working conditions or wages as a criminal conspiracy.

National Labor Relations Act

A foundational U.S. law enacted in 1935 that protects the rights of employees to organize, engage in collective bargaining, and take collective action including strikes.

Commonwealth Vs. Hunt

A landmark 1842 Massachusetts Supreme Court case that ruled labor unions and strikes were lawful.