Which of the Following Procedures Most Likely Would Assist an Auditor

question 126

Multiple Choice

Which of the following procedures most likely would assist an auditor in determining whether management has identified all accounting estimates that could be material to the financial statements?

• A) Inquire about the existence of related party transactions.
• B) Determine whether accounting estimates deviate from historical patterns.
• C) Confirm inventories at locations outside the entity.
• D) Review the lawyer's letter for information about litigation.

---

Definitions:

Web Browsing

The activity of navigating through pages on the internet using a web browser to find information or for entertainment.

PowerPoint Presentation

A slideshow created using Microsoft PowerPoint software, often used for educational, training, or business presentations.

Sales Message

A message designed to persuade potential buyers of the value of a product or service, aiming to prompt a purchase decision.

Delivery System

The method or process by which goods, services, or information are delivered to the end user.