Which of the following presentation and disclosure-related audit objectives does not have a parallel audit objective for both the transaction-related audit objectives and balance-related audit objectives?
A)allocation
B)classification
C)understandability
D)rights and obligations

Question

Quizplus · Accepted Answer

The presentation and disclosure-related audit objective of "understandability" does not have a parallel audit objective for either transaction-related or balance-related audit objectives. Allocation and classification are parallel audit objectives for transaction-related audit objectives, and rights and obligations are parallel audit objectives for balance-related audit objectives.

Which of the Following Presentation and Disclosure-Related Audit Objectives Does