The specific audit objective that recorded purchases represent goods, services, and productive assets received during the period 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 specific audit objective that recorded purchases represent goods, services, and productive assets received during the period relates to existence or occurrence. This objective ensures that the transactions recorded in the financial statements have actually occurred and pertain to the entity during the specified period.

The Specific Audit Objective That recorded Purchases Represent Goods, Services