An Auditor Scans a Client's Investment Records for the Period

Multiple Choice

An auditor scans a client's investment records for the period just before and just after the year-end to determine that any transfers between categories of investments have been properly recorded. The primary purpose of this procedure is to obtain evidence about management's financial statement assertions of:

A) Rights and obligations, and existence.
B) Valuation and accuracy, and rights and obligations.
C) Existence, and understandability and classification.
D) Understandability and classification, and valuation and accuracy.