Question 1 0.4 pts In the context of an audit of a financial report, substantive tests are audit procedures that: A. may be eliminated under certain conditions. B. are designed to discover significant subsequent events. C. may be either tests of details of transactions, tests of details of account balances, tests of disclosure, or analytical procedures, D. will increase proportionately with the auditor's reliance on internal control. D Question 3 0.4 pts When reviewing a loan agreement to ascertain whether the bank's security over any of the client's assets has been included in the financial report the audit assertion being achieved is: A accuracy, valuation and allocation. B. existence. C.rights and obligations D. completeness 0.4 pts Question 4 Which of the following audit objectives does not relate primarily to the financial report assertion of completeness? A. Inventories are reduced when appropriate to net realisable value. B. Inventory quantities include all products, materials and supplies on hand. C. The totals of inventory listings are properly included in the inventory accounts. D. Inventory quantities include all products, materials and supplies owned by the company that are in transit