The Audit Objective Specifying That "All Recorded Assets,liabilities,and Transactions Represent

question 47

Multiple Choice

The audit objective specifying that "all recorded assets,liabilities,and transactions represent real assets,liabilities,revenues,and expenses" is related most closely to which assertion(s) ?

• A)Existence or occurrence.
• B)Rights and obligations.
• C)Completeness.
• D)Presentation and disclosure.

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Definitions:

Prediction Interval

A prediction of the range within which future data points are expected to lie, based on current observations, with a specified level of confidence.

Confidence Interval

An interval of values, coming from sample-based data, likely to hold the value of an undetermined parameter of a population.

Standard Error

A statistical measure that represents the accuracy with which a sample distribution represents a population using the standard deviation.

P-value

The odds of getting results from a test that are as extreme as or exceed the extremity of the observed results, on the assumption that the null hypothesis is in effect.