Answered: During an audit of cash, the auditor is…

During an audit of cash, the auditor is most concerned with the management assertion ofa. Existence.b. Rights and obligations.c. Valuation or allocation.d. Occurrence.

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

Chapter10: Auditing Cash, Marketable Securities, And Complex Financial Instruments

Section: Chapter Questions

Problem 1CYBK

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Question

During an audit of cash, the auditor is most concerned with the management assertion of
a. Existence.
b. Rights and obligations.
c. Valuation or allocation.
d. Occurrence.

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