38.mediumWhich of the following statements is true regarding the distinction between general auditobjectives and specific audit objectives for each account balance?ba.The specific audit objectives are applicable to every account balance on the financialstatements.b.The general audit objectives are applicable to every account balance on the financialstatements.c.The general audit objectives are stated in terms tailored to the engagement.d.The specific audit objectives are stated in terms tailored to the engagement.
39.Which of the following statements about the existence and completeness objectives is not true?
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40.Why are there more balance-related audit objectives than transaction-related audit objectives?
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Management makes the following assertions about account balances:
A) existence, completeness, classification and cutoff.
B) existence, accuracy, classification and rights and obligations.
C) existence, completeness, valuation and allocation, and rights and obligations.
D) existence, completeness, rights
and obligations, and cutoff.