When an auditor inspects tangible assets on hand and traces the details to the details recorded in
Question:
When an auditor inspects tangible assets on hand and traces the details to the details recorded in the client’s records, the auditor is gathering evidence to support the:
(a) Completeness assertion.
(b) Existence assertion.
(c) Both (a) and (b).
(d) Neither (a) nor (b).
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 72% (11 reviews)
a Co...View the full answer
Answered By
Brown Arianne
Detail-oriented professional tutor with a solid 10 years of experience instilling confidence in high school and college students. Dedicated to empowering all students with constructive feedback and practical test-taking strategies. Effective educator and team player whether working in a school, university, or private provider setting. Active listener committed to helping students overcome academic challenges to reach personal goals.
4.60+
2+ Reviews
10+ Question Solved
Related Book For
Auditing A Practical Approach
ISBN: 978-1118849415
2nd Canadian edition
Authors: Fiona Campbell, Robyn Moroney, Jane Hamilton, Valerie Warren
Question Posted:
Students also viewed these Business questions
-
When an auditor inspects a tangible asset to support a balance in the clients records, the auditor is gathering evidence to support the: a. Completeness assertion. b. Existence assertion. c....
-
When an auditor inspects loan documentation and traces the details to recording in the clients records, the auditor is gathering evidence to support the: a. Completeness assertion. b. Existence...
-
Rider Co. makes automobile parts for sale to major automobile manufacturers in the United States. The following information is available regarding internal controls over machinery and equipment: When...
-
The stress field (15.1.7) for the screw dislocation produces no tangential or normal forces on a cylinder of finite radius with axis along the dislocation line (z-axis). However, show that if the...
-
Refer to the information for Brierwold Corporation below: Required: Prepare a statement of cash flows using the indirect method? Balance sheets for Brierwold Corporation follow: Beginning Balances...
-
You have just been hired by Ogden Company to fill a new position that was created in response to rapid growth in sales. It is your responsibility to coordinate shipments of finished goods from the...
-
Meghann Patrick is a former employee of Altria Group Distribution Company. After her employment was terminated, Patrick sued Altria and a supervisor at Altria, alleging employment-related claims...
-
Frieden Companys contribution format income statement for the most recent month is given below: Sales (40,000 units) . . . . . . . . . . . $800,000 Variable expenses . . . . . . . . . . . . 560,000...
-
Transform following Relational model into ER Model. id Author writes authorid bookid Book bookid title edition libid memberld name dob AuthorContact id contact publishes Library id bid date id...
-
The Alfredo Fragrance Company produces only one product, a perfume called Hint of Elegance. Hint of Elegance consists of two secret ingredients blended into an exclusive fragrance, which is marketed...
-
When an auditor gathers documentary evidence or physical evidence to support an entry in the clients records, the auditor is gathering evidence to support the: (a) Completeness assertion. (b)...
-
Generally the most persuasive form of evidence is: (a) Internally generated evidence. (b) Externally generated evidence held by the client. (c) Externally generated evidence sent directly to the...
-
How are the points (3,/2) and (3, /2) related?
-
Umbrella Co's gross profit margin increased from 41.5% in year 1 to 44.3% in year 2. Possible reasons may include: 1. Cost of obsolete product passed on to the customer. 2. Use of early payment...
-
The Grist Mill just paid a dividend of $3.46 per share on its stock. The dividends are expected to grow at a constant rate of 4.5 percent per year, indefinitely. What will the price of this stock be...
-
What changes are needed in resource and supply planning for a health care system to be prepared for a surge in demand during the next epidemic? What are some innovative strategies and ideas that can...
-
Swapping battery system on tesla electric charging station market segmentation, Describe market segment and Provide each segment example.
-
Market Segmentation of Battery Swapping system at Tesla Charging station, 1. Identify all potential market segments that could be served by applying the bases of segmentation. 2. Utilize secondary...
-
Why would making CDSs an exchange-listed product have avoided the collapse of AIG and averted the 2008-9 financial crisis?
-
A seasonal index may be less than one, equal to one, or greater than one. Explain what each of these values would mean.
-
Fred Saros is auditing cash payments for OGA, a large supermarket. OGA deals with several very large corporate suppliers who expect payment by electronic funds transfer within three business days of...
-
Bob Downe is auditing Red Gum Home Furniture (RGHF), a manufacturer and retailer of boutique home furniture. RGHF was founded 25 years ago by a husband and wife team and has grown rapidly in the last...
-
Bob Downe is auditing Red Gum Home Furniture (RGHF), a manufacturer and retailer of boutique home furniture. RGHF was founded 25 years ago by a husband and wife team and has grown rapidly in the last...
-
Explain the three principles underlying modern labour law?
-
For job applicants, what are the limitations of labour law protections against discriminatory hiring decisions?
-
Why are nurses and doctors important to Canadian labour law?
Study smarter with the SolutionInn App