The test of details of balances procedure to 'foot the acquisitions schedule' is done to satisfy which audit objective?
A) existence
B) detail tie-in
C) classification
D) cutoff

Question

Quizplus · Accepted Answer

The test of details of balances procedure to 'foot the acquisitions schedule' is done to satisfy the audit objective of detail tie-in. This objective ensures that the amounts reflected in the client's accounting records are consistent with the underlying source documents, such as the acquisitions schedule. By "footing" the schedule, the auditor is verifying that the total amount on the schedule agrees with the balance in the client's general ledger.

The Test of Details of Balances Procedure to 'Foot the Acquisitions