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  2. Topic
    Business
  3. Study Set
    Auditing and Assurance Services Study Set 1
  4. Exam
    Exam 18: Audit of the Acquisition and Payment Cycle: Tests of Controls and Substantive Tests of Transactions, and Accounts Payable
  5. Question
    Auditors Primarily Emphasize the Understatement of Liabilities in the Audit
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Auditors Primarily Emphasize the Understatement of Liabilities in the Audit

Question 1

Question 1

True/False

Auditors primarily emphasize the understatement of liabilities in the audit of Accounts payable because they are concerned about potential legal liability.

Correct Answer:

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