Auditor Confirmation of Accounts Payable Balances at the Balance Sheet

question 674

Multiple Choice

Auditor confirmation of accounts payable balances at the balance sheet date may be unnecessary because:

• A) This is a duplication of cutoff tests.
• B) Accounts payable balances at the balance sheet date may not be paid before the audit is completed.
• C) Correspondence with the audit client's attorney will reveal all legal action by vendors for nonpayment.
• D) There is likely to be other reliable external evidence available to support the balances.

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Definitions:

Emotional Style

Refers to a person's characteristic way of perceiving, experiencing, and responding to emotions.

Think Before They Act

A principle that emphasizes the importance of reflection and planning before taking any action to ensure thoughtful and informed decisions.

Emotional Style

An individual's characteristic way of perceiving and expressing emotions in daily life.

Fine-tune

Making small adjustments to something to improve its performance or effectiveness.