Which of the following statements is true regarding a difference between general audit objectives and specific audit objectives for an account balance?
A)The general audit objectives are applicable to every account balance on the financial statements.
B)The specific audit objectives are applicable to every account balance on the financial statements.
C)For any given account,usually only one audit objective must be met to conclude the transactions are properly accounted.
D)The general audit objectives are stated in terms tailored to the engagement.

Question

Quizplus · Accepted Answer

General audit objectives apply universally to all account balances and transactions in the financial statements, ensuring completeness, accuracy, and validity of the financial information, whereas specific audit objectives are tailored to particular account balances or classes of transactions, focusing on the detailed assertions related to those areas.

Which of the Following Statements Is True Regarding a Difference