Indicate the primary audit objective satisfied by this audit procedure: Add the client's fixed asset ledger and agree totals by asset category to the general ledger. Detail tie-in Completeness - transactions Accuracy transactions Timing Posting and summarization Existence Completeness - balances Cutoff Occurrence Realizable value

Indicate the primary audit objective satisfied by this audit procedure: Add the client's fixed asset ledger and agree totals by asset category to the general ledger. Detail tie-in Completeness - transactions Accuracy transactions Timing Posting and summarization Existence Completeness - balances Cutoff Occurrence Realizable value

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter11: Auditing Inventory, Goods And Services, And Accounts Payable: The Acquisition And Payment Cycle

Section: Chapter Questions

Problem 25CYBK

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1
An audit trail is a step-by-step record by which accounting data can be traced to its source. Therefore, Vouching is used primarily to test which of the following assertions about classes of transaction? Select one: a.Accuracy. b.Completeness. c. Cut-off d. Occurrence
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