QUESTION 21 Cash transactions including all transactions that have taken place in the period satisfies the existence or occurrence assertion relevant to cash. True False QUESTION 22 The auditor is required to date the audit report using the last date of fieldwork. True False QUESTION 23 All of the Schaumburg Office Location Audit Team of Cinci Auditors International audited the financial statements of Pazo Corp. An engagement quality review of the audit of Pazo Corp. can be performed by a member of the Schaumburg Office Location Audit Team. True False QUESTION 24 Some of the auditor's responsibility can extend beyond the balance sheet date. True False QUESTION 25 In the event there are no material violation of generally accepted auditing principles, the audit will issue an unqualified report True FalseQUESTION 26 Physically inspecting tangible assets, including major additions, and agreeing serial numbers with invoices or other supporting documents is an example of substantive fraud-related procedures. True False QUESTION 27 Inherent risks pertaining to cash can be attributed to the susceptibility of cash. True False QUESTION 28 A failure to write-off obsolete inventory when inventory shrinks is an example of theft of inventory. True False QUESTION 29 The valuation assertion is relevant to auditing both debt and equity. True False QUESTION 30 Sini Inc. purchased receivables from Casto Inc. in June 2018. In June 2019, Casto Inc. agreed to purchase the receivables back from Sini Inc. The auditor is responsible for maintaining policies and procedures to account for this transaction. True False