Discuss Three Audit Procedures Commonly Used to Search for Contingent

question 51

Essay

Discuss three audit procedures commonly used to search for contingent liabilities.

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Definitions:

Hierarchical Structure

An organizational structure where entities are arranged in a ranked or pyramid shape, often used in file systems and databases.

Defragment

The process of consolidating fragmented files on a disk drive, aiming to improve storage efficiency and access speed.

System Restore

A feature in some operating systems that allows a computer to be restored to a previous state, potentially fixing issues by reverting system files and settings.

Task Manager

A system monitor program used to provide information about the processes and applications running on a computer as well as the general status of the system.