
Concept explainers
a.
Explain the difference between the contingent liabilities and commitments. Also, explain the importance of both in an audit.
b.
List the three useful
c.
List the other three other procedures that person J would likely to perform specifically for the purpose of identifying undisclosed contingencies that would helps in obtaining evidence about the presentation audit objective.
d.
List the three useful audit procedures for uncovering commitments that Person J would likely to perform as a part of the audit in other accounts.

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Chapter 24 Solutions
Mylab Accounting With Pearson Etext -- Access Card -- For Auditing And Assurance Services (17th Edition)
- Auditing: A Risk Based-Approach to Conducting a Q...AccountingISBN:9781305080577Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:South-Western College PubAuditing: A Risk Based-Approach (MindTap Course L...AccountingISBN:9781337619455Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:Cengage Learning

