Three presentation and disclosure audit objectives are not affected by assessed control risk for the sales transactions.These are
A)rights and obligations,valuation,and understandability.
B)understandability,valuation,and occurrence.
C)valuation,rights and obligations,and classification.
D)classification,understandability,and rights and obligations.

Question

Quizplus · Accepted Answer

Rights and obligations, valuation, and understandability are not affected by assessed control risk because they are inherent in the nature of the sales transactions and are not affected by the effectiveness of the controls.

Three Presentation and Disclosure Audit Objectives Are Not Affected by Assessed