Based on an analytical review,the auditor determines that trading securities are reporting a gain and available-for-sale securities are reporting a loss.The auditor's concern would be
A) whether the securities in the trading account and the available-for-sale account are accurately recorded
B) whether the securities in the trading account and the available-for-sale account are being manipulated by management
C) whether the securities in the trading account and the available-for-sale account are properly classified
D) whether the securities in the trading account and the available-for-sale account are properly adjusted
Correct Answer:
Verified
Q45: Although management may have designed internal controls,the
Q70: IT controls that the auditor might expect
Q71: Key control procedures for investments are
A)segregation of
Q73: Whether the auditor chooses to test or
Q74: IT controls that the auditor might expect
Q76: Key control procedures for investments are
A)segregation of
Q77: The decision to test internal controls in
Q78: The auditor gathers evidence to evaluate management's
Q79: IT controls that the auditor might expect
Q80: Investment securities do not include
A)stocks
B)bonds
C)derivative instruments
D)hedge funds
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