The population for a substantive test of transactions consists of
A)all items in the class of transactions at the end of the year
B)all material items in the accounts or class of transactions
C)all material events in the accounts or class of transactions
D)all items in the accounts at the end of the year
E)all transactions in the class of transactions for the entire year

Question

Quizplus · Accepted Answer

The population for a substantive test of transactions includes all transactions in the class of transactions for the entire year, as auditors aim to test the transactions that occurred throughout the year, not just those present or material at year-end.

The Population for a Substantive Test of Transactions Consists of