Discuss the reason for the audit of prepaid insurance should ordinarily take a relatively small amount of audit time if the client assessed control risk for acquisition is low.

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Chapter 19, Problem 8RQ

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Discuss the reason for the audit of prepaid insurance should ordinarily take a relatively small amount of audit time if the client assessed control risk for acquisition is low.

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Question

Chapter 19, Problem 8RQ

To determine

Discuss the reason for the audit of prepaid insurance should ordinarily take a relatively small amount of audit time if the client assessed control risk for acquisition is low.

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Answer 3

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Chapter 19, Problem 8RQ

To determine

Discuss the reason for the audit of prepaid insurance should ordinarily take a relatively small amount of audit time if the client assessed control risk for acquisition is low.

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Answer 4

Question

Chapter 19, Problem 8RQ

To determine

Discuss the reason for the audit of prepaid insurance should ordinarily take a relatively small amount of audit time if the client assessed control risk for acquisition is low.

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Answer 5

Chapter 19, Problem 8RQ

To determine

Discuss the reason for the audit of prepaid insurance should ordinarily take a relatively small amount of audit time if the client assessed control risk for acquisition is low.

Answer 6

Chapter 19, Problem 8RQ

To determine

Discuss the reason for the audit of prepaid insurance should ordinarily take a relatively small amount of audit time if the client assessed control risk for acquisition is low.

Answer 7

Chapter 19, Problem 8RQ

To determine

Discuss the reason for the audit of prepaid insurance should ordinarily take a relatively small amount of audit time if the client assessed control risk for acquisition is low.

Answer 8

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Answer 11

Ch. 19 - Identify three asset accounts, three expense...Ch. 19 - Explain the relationship between substantive tests...Ch. 19 - Prob. 3RQ Ch. 19 - Prob. 4RQ Ch. 19 - Prob. 5RQ Ch. 19 - Prob. 6RQ Ch. 19 - Prob. 7RQ Ch. 19 - Prob. 8RQ Ch. 19 - Prob. 9RQ Ch. 19 - Prob. 10RQ

Discuss the reason for the audit of prepaid insurance should ordinarily take a relatively small amount of audit time if the client assessed control risk for acquisition is low.

Solution Summary: The author explains that the audit of prepaid insurance takes relatively small amount of audit time due to non-complex transactions and immaterial transactions.

Concept explainers

Discuss the reason for the audit of prepaid insurance should ordinarily take a relatively small amount of audit time if the client assessed control risk for acquisition is low.

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Chapter 19 Solutions