Multiple Choice
Which are the two audit assertions considered most important to the auditor concluding there are no material misstatements in trade receivables at year-end?
A) Valuation and allocation, and rights and obligations
B) Existence and occurrence
C) Occurrence and rights and obligations
D) Existence and valuation and allocation
Correct Answer:

Verified
Correct Answer:
Verified
Q1: A pledge is something delivered as security
Q5: Evaluating the adequacy of the allowance for
Q12: Which of the following is a substantive
Q13: A fixed assets register is used to
Q13: Which of the following account balances are
Q32: When the assessment of inherent risk and
Q34: Explain how auditors evaluate the results of
Q36: The timing of substantive testing is dependent
Q37: Discuss the specific issues that auditors should
Q50: Accounts that are clearly trivial or immaterial