Accounts payable generally present the auditors with difficult valuation problems.   false   true

The competence (reliability) of audit evidence cannot be improved by testing a larger sample of items. True  False Objective evidence is more reliable, and hence more persuasive, than subjective evidence. True  False Audit evidence related to balance sheet accounts is more persuasive when it is accumulated during the entire period under audit, than when it is obtained only during the period near the balance sheet date. True  False Cost should never be a consideration when making decisions about evidence for a given audit. True  False

Audit evidence obtained through inquiry of management about proper segregation of custodianship and recordkeeping functions is less reliable than evidence acquired through the auditor's personal observation.  TRUE OR FALSE? WHY?

Auditors often use a client's historical experience and subsequent transactions to evaluate the reasonableness of estimates.   Question  options:   True   False