Which procedure should the auditor perform to determine the accuracy of company

Question

Which procedure should the auditor perform to determine the accuracy of company investments and investment income?

a. determine whether recorded investment income actually occurred during the period covered by the financial statement

b. confirm that all investments owned by the entity at the balance sheet date are included in the financial statements

c. validate that income from investments, including realized and unrealized gains and losses is accurately reflected in the financial statements.

d. verify that recorded investment transactions represent acquisitions and dispositions that actually occurred during the period covered by the financial statements

Explanation / Answer

c. validate that income from investments, including realized and unrealized gains and losses is accurately reflected in the financial statements.

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