1. Ensuring recorded purchase transactions represent goods and services received during the period under audit gathers evidence related to the audit objective of

Existence or occurrence.

Accuracy, valuation and allocation.

Completeness.

Rights and obligations.

2. Ensuring that accounts payable includes all the amounts owed by the entity to the suppliers of goods and services at the balance sheet date gathers evidence related to the audit objective of

Accuracy, valuation and allocation.

Rights and obligations.

Existence or occurrence.

Completeness.

3. Which of the following statements describes the audit objective of accuracy, valuation and allocation?

All purchase and payment transactions that occurred during the period have been recorded.

Purchase, payment and payroll transactions are correctly recorded in the information system.

Recorded purchase and payroll transactions represent the liabilities of the entity.

Recorded purchase transactions represent goods and services received during the period under audit.

4. Which of the following statements describes the audit objective of rights and obligations

All purchase and payment transactions that occurred during the period have been recorded.

Recorded purchase and payroll transactions represent the liabilities of the entity.

Accounts payable and accrued payroll liabilities are liabilities of the entity at the balance sheet date.

Recorded purchase transactions represent goods and services received during the period under audit.