Final answer:
The statement that auditors are concerned with the realizable value and rights to cash is true, as their role is to ensure the reliability of an entity's financial statements by confirming assets can be converted to cash and are owned by the entity.
Step-by-step explanation:
The statement that the auditor is generally concerned about the realizable value and the rights to cash is True. Auditors are tasked with evaluating whether the financial statements of an entity present a true and fair view of its financial position. To achieve this, auditors must consider the realizable value of an entity's assets, which is the estimated amount that could be gained from the sale of an asset in the ordinary course of business. The rights to cash pertain to the entity's ability to convert its assets and investments to cash and collect its receivables, thus asserting that they own the assets and the related revenues are collectible. An audit often includes procedures such as inspection, observation, and confirmation to verify these concerns and provide assurance to stakeholders about the reliability of financial information.