McqMate
| Q. |
Which of the following statements is not true? |
| A. | Valuation of assets is the responsibility of management |
| B. | The auditor can rely on a certificate issued by an authorized valuationer as to the valuation of assets in the balance sheet |
| C. | The auditor should value the asset as per generally accepted accounting principle |
| D. | Valuation is no part of auditor’s duty |
| Answer» C. The auditor should value the asset as per generally accepted accounting principle | |
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