Since the Audit of Accounts Payable Generally Takes a Considerable

question 41

Multiple Choice

Since the audit of accounts payable generally takes a considerable amount of audit time,effective and properly tested internal controls can significantly reduce audit costs by reducing

• A)tests of controls.
• B)confirmations.
• C)tests of details of balances.
• D)analytical procedures.

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Definitions:

Hemostasis

The process by which bleeding is stopped via blood clotting after a blood vessel injury.

Hypoglycemia

A condition characterized by an abnormally low level of glucose (sugar) in the blood, often causing symptoms such as shakiness, sweating, and confusion.

Thrombectomy

A medical procedure to remove a blood clot (thrombus) from a blood vessel.

Erythropoietin

A hormone produced primarily by the kidneys that stimulates the production of red blood cells in the bone marrow.