Multiple Choice
When auditing contingent liabilities, the primary objective at the initial stage of the tests is to determine:
A) the materiality of any liability.
B) the likelihood of the liability.
C) what constitutes adequate disclosure of the liability.
D) the existence of the liability.
Correct Answer:
Verified
Correct Answer:
Verified
Q77: The following events all occurred after the
Q78: Which event that occurred after the end
Q79: The process of 'final evidence accumulation' is
Q80: The auditor needs to perform procedures to
Q81: Because a management representation letter is a
Q83: The management representation letter is prepared on
Q84: Although there is no professional requirement to
Q85: If a potential loss on a contingent
Q86: Which one of the following material events
Q87: The following events all occurred after the