The auditor uses substantive tests of transactions to
A)gather evidence for income statement accounts in the business process
B)gather evidence for balance sheet accounts in the business process
C)determine the valuation of income statement accounts in the business process
D)determine the valuation for balance sheet accounts in the business process

Question

Quizplus · Accepted Answer

Substantive tests of transactions are primarily used to gather evidence regarding the accuracy and completeness of income statement accounts, ensuring that transactions are recorded correctly in the financial statements.

The Auditor Uses Substantive Tests of Transactions to