20 Which of the following actions would be least likely to be a related-party transaction? A purchase transaction between entity and its owners An exchange of property between an entity and a joint venture in which the entity has part ownership parent company and its subsidiary d. Writing off obsolete inventory prior to year-end QUESTION 29 Which of the following statements related to related party transactions is correct? a. related party transactions have higher risks of material misstatements b. Auditors need to identify only the significant related party transactions C. Auditors should not be skeptical that clients will want to hide related party transactions d. Auditors should not expect that the company's internal control system will identify related party transactions. QUESTION 30 Vouching a sample of recorded sales transactions back to the customer orders and shipping documents provide support for: a. Presentation and Disclosure b. Existence C. Rights and Obligations d. Completeness Click Save and Submit to save and submit. Click Save All Answers to save all answers