Which of the following is not one of the auditor's primary objectives in an examination of marketable securities?
A)To determine whether securities are authentic.
B)To determine whether securities are the property of the entity.
C)To determine whether securities actually exist.
D)To determine whether securities are properly classified on the balance sheet.

Question

Quizplus · Accepted Answer

While determining whether securities are authentic is important to ensure that the securities are not counterfeit, it is not one of the primary objectives of the auditor's examination of marketable securities. The primary objectives are to determine ownership, existence, and proper classification on the balance sheet.

Which of the Following Is Not One of the Auditor's