The specific audit objective that all purchases and cash disbursements made during the period were recorded relates to: A) rights and obligations. B) completeness. C) existence or occurrence. D) presentation and disclosure. E) valuation or allocation.

Question

Quizplus · Accepted Answer

The objective of ensuring that all purchases and cash disbursements made during the period were recorded relates to the completeness assertion. This assertion concerns whether all transactions and events that should have been recorded have indeed been recorded in the financial statements.

The Specific Audit Objective That All Purchases and Cash Disbursements