It Usually Takes More Time to Audit the Acquisition and Payment

question 88

Multiple Choice

It usually takes more time to audit the acquisition and payment cycle than any other cycle because:

• A) there is a greater likelihood of lawsuits against the auditor relating to these accounts.
• B) internal controls in this area are usually weaker.
• C) there is a greater possibility of fraud in these transactions.
• D) of the large number of time-consuming accounts affected.

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