Reference no: EM132839893

Problem 1: The concept of "proper cutoff" is most closely related to which two of these assertions?

a. Existence or occurrence, and completeness.

b. Existence or occurrence, and accuracy (valuation).

c. Valuation or allocation, and presentation and disclosure.

d. Completeness, and classification.

e. Rights and obligations, and valuation or allocation.

Problem 2: In testing the completeness assertion, an auditor ordinarily tests in which direction?

a. From the financial statements to the potentially prematurely recorded items.

b. From the potentially prematurely recorded items to the financial statements.

c. From the supporting source documents to the accounting records.

d. From accounting records to the supporting source documents.

e. From the general ledger to the subsidiary ledger.