The auditor's audit objectives follow and are closely related to management assertions

If market value of an impaired asset recovers after an impairment has been recognized, the impairment may be reversed in a subsequent period.

a. true b. false

Which of the following deeds protects the buyer against title defects that occurred only during the seller's ownership?

A. General warranty deed. B. Special warranty deed. C. Quitclaim deed. D. Trust deed.