When auditing contingent liabilities, the primary objective at the initial stage of the tests is to determine:
A) the likelihood of the liability.
B) the materiality of any liability.
C) the existence of the liability.
D) what constitutes adequate disclosure of the liability.

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The Answer of When auditing contingent liabilities, the primary objective at the initial stage of the tests is to determine:
A) the likelihood of the liability.
B) the materiality of any liability.
C) the existence of the liability.
D) what constitutes adequate disclosure of the liability.

When Auditing Contingent Liabilities, the Primary Objective at the Initial