Principles Of Auditing & Other Assurance Services
Principles Of Auditing & Other Assurance Services
21st Edition
ISBN: 9781259916984
Author: WHITTINGTON, Ray, Pany, Kurt
Publisher: Mcgraw-hill Education,
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Chapter 15, Problem 32POQ

An auditor most likely would inspect loan agreements under which an entity’s inventories are pledged to support management’s financial statement assertion of:

  1. (1) Presentation and disclosure.
  2. (2) Valuation or allocation.
  3. (3) Existence or occurrence.
  4. (4) Completeness.
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During the review of loan contracts and agreements, the auditor would most likely figure out the following, except: A. The existence of loans. B. The completeness of loans. C. Related disclosures pertaining to assets pledged as collateral. D. The accuracy of interest expense recorded by the entity.
the auditor confirms the receivable of the entity to the entity's customers: a. existence b. completeness c. cutoff d. valutation
1. An auditor most likely would review an entity’s periodic accounting for the numerical sequence of shipping documents and invoices to support management’s financial statement assertion of a. Valuation b. Completeness c. Existence and occurrence d. Rights and obligations

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Principles Of Auditing & Other Assurance Services

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