Which of the following would provide the best evidential matter pertaining to the annual valuation of a
Question:
Which of the following would provide the best evidential matter pertaining to the annual valuation of a long-term investment in which the independent auditor's client owns a 30 percent voting interest?
a. Market quotations of the investee company's stock.
b. Current fair value of the investee company's assets.
c. Audited financial statements of the investee company.
d. Historical cost of the investee company's assets.
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Related Book For 
Auditing An Assertions Approach
ISBN: 9780471134213
7th Edition
Authors: G. William Glezen, Donald H. Taylor
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