Multiple Choice
A PA is planning the audit of Lowden's Company.Lowden verbally asserts to the PA that all the expenses for the year have been recorded in the accounts.Lowden's representation
A) should be disregarded because it is not in writing.
B) can enable the PA to minimize his work during control testing for the completeness of expenses.
C) is sufficient evidence for the PA to conclude that the completeness assertion is supported for the expenses.
D) is not considered a sufficient basis for the PA to conclude that all expenses have been recorded.
Correct Answer:
Verified
Correct Answer:
Verified
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