of the following assertions is the primary assertion that is satisfied by physically 19. Which of the following assen observing the client's count of inventory? a. Rights b Valuation c. Completeness. d. Existence. ANSWER: 20. When the auditor used the audit procedure vouching she is primarily concerned of the following assertions? a. Completeness b. Existence. c. Authorization d. Classification. ANSWER: 21. Observation suffers from which of the following limitations? a. Observation of processing is rarely unobtrusive. b. Observation of processing on one day does not necessarily indicate how transactions were processed on a different day. c. All the above. d. None of the above. ANSWER: 22. The extent of procedures is affected mostly by which of the following factors? a. The sheer volume of procedures to be applied by the auditor. b. The time of year in which the client takes a physical inventory in the warehouse. c. The auditor's judgment that misstatements are probable in certain balances. d. The availability of the client's staff at or near the balance sheet date. ANSWER: 23. An audit program is created to specify which of the following