17) The mark-to-market accounting process reveals that Apples phone inventory on the books are valued much higher than in the open market. If the management doesnt take a write-down, they are violating the following management assertion

Accuracy

Occurrence

Valuation

Cutoff

18) Overstatements in financial statements can be captured by performing the following management assertion

Tracing

Completeness

Accuracy

None of the above

19) If my risk of material misstatement is high, I need to set my ___________ at low

Control Risk

Inherent Risk

Audit Risk

Detection Risk

20) A staff accountant performs analytical procedures at the beginning stage of an audit and before giving an opinion

True

False