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.

Question

Quizplus · Accepted Answer

Examining documents of title relates to the rights and obligations assertion as it provides evidence about ownership and legal rights to assets, liabilities, and equity interests. Assessing management's impairment estimates and inquiring about idle assets relate to the valuation and existence assertions, while recalculating amortization expense relates to the completeness and accuracy assertion.

Which of the Following Procedures Is a Substantive Procedure That