Multiple Choice
The erroneous inclusion of transactions that should properly be recorded as assets into accounts such as repairs expense, lease expense, or supplies is a common client error. The auditor is most lkely to evaluate the likelihood of these types of misclassifications in conjunction with:
A) obtaining an understanding of internal control.
B) the tests of controls.
C) the tests of transactions.
D) the tests of details of balances.
Correct Answer:
Verified
Correct Answer:
Verified
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