PRIN.OF AUDITING+OTHER...(LL) >CUSTOM<
21st Edition
ISBN: 9781260824308
Author: WHITTINGTON
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 11B, Problem 2P
a.
To determine
Identify the risk of misstatement based on any unusual relationship that could be derived from the review and analysis of given information from Schedule B-11.
b.
To determine
Identify the procedures on the audit plan addressing risks discovered in a. for receivables and revenues.
c.
To determine
Review the audit plan and identify the substantive
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Question 2
Long term assets without any physical existence but, possessing a value are called
A) Intangible assets
B) Fixed assets
C) Current assets
D) Investments
Resources owned by a company (such as cash, accounts receivable, vehicles) are reported on the balance sheet and are referred to as
When are liabilities recorded under the accrual basis of accounting?
When incurred
When paid
At the end of the fiscal year
When bank accounts are reconciled
Chapter 11B Solutions
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