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Listed below are the audit objectives for the audit of assets and audit procedures design to achieve certain of those objectives. Match the procedure with the primary objective or objectives that it is intended to achieve. Audit Objectives A. Establish the existence of the assets B. Establish the rights to the assets Audit Procedures | 28. Confirm a sample of account receivable by direct communication with the client D. Determine the appropriate valuation of the assets C. Establish the completeness of recorded assets 29. Trace selected purchase transactions to entries in account 30. Vouch purchases of property, plant and equipment made during the year 31. Obtain a lawyer's letter from the client's attorney 32. Observe the client's physical inventory E. Determine the appropriate financial statement presentation

Listed below are the audit objectives for the audit of assets and audit procedures design to achieve certain of those objectives. Match the procedure with the primary objective or objectives that it is intended to achieve. Audit Objectives A. Establish the existence of the assets B. Establish the rights to the assets Audit Procedures | 28. Confirm a sample of account receivable by direct communication with the client D. Determine the appropriate valuation of the assets C. Establish the completeness of recorded assets 29. Trace selected purchase transactions to entries in account 30. Vouch purchases of property, plant and equipment made during the year 31. Obtain a lawyer's letter from the client's attorney 32. Observe the client's physical inventory E. Determine the appropriate financial statement presentation

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Listed below are the audit objectives for the audit of assets and audit procedures design to achieve certain of those objectives. Match the procedure with the primary objective or objectives that it is intended to achieve. Audit Objectives A. Establish the existence of the assets B. Establish the rights to the assets Audit Procedures | 28. Confirm a sample of account receivable by direct communication with the client D. Determine the appropriate valuation of the assets C. Establish the completeness of recorded assets 29. Trace selected purchase transactions to entries in account 30. Vouch purchases of property, plant and equipment made during the year 31. Obtain a lawyer's letter from the client's attorney 32. Observe the client's physical inventory E. Determine the appropriate financial statement presentation
Transcribed Image Text:Listed below are the audit objectives for the audit of assets and audit procedures design to achieve certain of those objectives. Match the procedure with the primary objective or objectives that it is intended to achieve. Audit Objectives A. Establish the existence of the assets B. Establish the rights to the assets Audit Procedures | 28. Confirm a sample of account receivable by direct communication with the client D. Determine the appropriate valuation of the assets C. Establish the completeness of recorded assets 29. Trace selected purchase transactions to entries in account 30. Vouch purchases of property, plant and equipment made during the year 31. Obtain a lawyer's letter from the client's attorney 32. Observe the client's physical inventory E. Determine the appropriate financial statement presentation
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