Multiple Choice
Which of the following procedures is a substantive procedure that relates to the rights and obligations assertion?
A) Assess management's impairment estimates.
B) Examine documents of title.
C) Recalculate amortization expense.
D) Inquire of management about assets that are idle.
Correct Answer:

Verified
Correct Answer:
Verified
Q79: When the value of a long-lived asset
Q80: Repairs and maintenance Assume that an auditor
Q81: If the auditor is performing substantive procedure
Q82: Audits of Level 3 assets are the
Q83: Under accounting guidance issued by the FASB
Q85: Knowledge of industry product trends is crucial
Q86: If planning analytical procedures identify some unexpected
Q87: Which one of the following factors is
Q88: The auditor typically makes a physical inspection
Q89: For intangible assets,controls should be designed to