The auditor traces items from the journals back to the source documents in order to satisfy the:
A) completeness objective.
B) existence objective.
C) valuation objective.
D) ownership objective.

Question

Quizplus · Accepted Answer

The existence objective relates to whether the recorded transactions actually occurred and are real. Tracing items from the journals back to the source documents helps to confirm the existence of the transactions.

The Auditor Traces Items from the Journals Back to the Source