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Auditing and Assurance Services 9th Edition by Alvin Arens,Mark Beasley,Randy Elder
Edition 9ISBN: 978-0130459206Auditing and Assurance Services 9th Edition by Alvin Arens,Mark Beasley,Randy Elder
Edition 9ISBN: 978-0130459206 Exercise 8
An auditor would most likely verify the interest earned on bond investments by
A) Vouching the receipt and deposit of interest checks.
B) Confirming the bond interest rate with the issuer of the bonds.
C) Recomputing the interest earned on the basis of face amount, interest rate, and period held.
D) Testing the controls over cash receipts.
A) Vouching the receipt and deposit of interest checks.
B) Confirming the bond interest rate with the issuer of the bonds.
C) Recomputing the interest earned on the basis of face amount, interest rate, and period held.
D) Testing the controls over cash receipts.
Explanation
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Recomputing the interest earned on the b...
Auditing and Assurance Services 9th Edition by Alvin Arens,Mark Beasley,Randy Elder
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