What type of test is used to obtain the most types of evidence?
A) substantive tests of transactions
B) tests of controls
C) risk assessment tests
D) tests of details of balances

Question

Quizplus · Accepted Answer

Tests of details of balances involve obtaining evidence about the various components of an account balance, including existence, completeness, accuracy, valuation, and allocation. This type of testing can reveal a wide range of evidence, including physical or documentary evidence, confirmations, analytical procedures, and inquiries of management or third parties. The other types of tests (substantive tests of transactions, tests of controls, and risk assessment tests) are more limited in scope and may not reveal as much evidence as tests of details of balances.

What Type of Test Is Used to Obtain the Most