Multiple Choice
Which of the following are substantive tests of payables balances that are always performed?
A) Perform a search for unrecorded liabilities
B) Examine the client's bank reconciliations
C) Test the cut-off by inspecting the payments ledger and supporting documents to determine that transactions are recorded in the period
D) All of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q1: A pledge is something delivered as security
Q18: The additional opportunities for influencing the timing
Q19: Physically sighting fixed assets enables the auditor
Q20: When substantive tests performed identify errors or
Q21: Existence of trade receivables is usually verified
Q22: Ensuring that all property, plant and equipment
Q23: When the assessment of inherent and control
Q34: Explain how auditors evaluate the results of
Q39: When trade receivables is a significant account
Q50: Accounts that are clearly trivial or immaterial