Question

When auditing the existence assertion for an asset, auditors proceed from the: Multiple Choice General ledger back to the supporting original transaction documents. Financial statement amounts back to the potentially unrecorded items. Potentially unrecorded items forward to the financial statement amounts. Supporting original transaction documents to the general ledger.

Answer 1

General ledger back to the supporting original transaction documents

Step-by-step explanation:

In the case when auditing is done with the assertion of an asset i.e. existed so here the auditor would proceed from general ledger and back to the real documents i.e. supported to the business transactions

Therefore as per the given situation, the first option is correct