Which of the following is not a general objective for the audit of asset accounts? A)Establishing existence of assets. B)Establishing proper valuation of assets. C)Establishing proper liabilities relating to assets. D)Establishing the completeness of assets.

Question

Quizplus · Accepted Answer

The objective of the audit of asset accounts does not include establishing the proper liabilities relating to assets, as this is generally considered a separate objective related to the audit of liability accounts. The other three options are typical objectives for the audit of asset accounts.

Which of the Following Is not a General Objective for the Audit