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  2. Topic
    Business
  3. Study Set
    Auditing and Assurance Services Study Set 2
  4. Exam
    Exam 18: Audit of the Acquisition and Payment Cycle: Tests of Controls, Substantive Tests of Transactions, and Accounts Payable
  5. Question
    Since There Are a Large Number of Accounts Involved in the Acquisition
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Since There Are a Large Number of Accounts Involved in the Acquisition

Question 141

Question 141

True/False

Since there are a large number of accounts involved in the acquisition and payment cycle, there is the potential for classification misstatements, some of which are likely to affect income.

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