The audit procedure that requires an auditor to "foot the acquisition schedule" relates to which balance-related audit objective?
A) classification
B) detail tie-in
C) existence
D) cut-off

Question

Quizplus · Accepted Answer

The foot the acquisition schedule is a form of detail tie-in procedure which involves verifying that the total of the acquisition schedule foots to the general ledger. Therefore, the related balance-related audit objective is detail tie-in.

The Audit Procedure That Requires an Auditor to "Foot the Acquisition