A Continuing Audit Client's Property,plant,and Equipment and Accounts Receivable Accounts

question 13

Multiple Choice

A continuing audit client's property,plant,and equipment and accounts receivable accounts have approximately the same year-end balance.In this circumstance,when compared to property,plant and equipment,one would normally expect the audit of accounts receivable to require:

• A)More audit time.
• B)Less audit time.
• C)Approximately the same amount of audit time.
• D)Similar confirmation procedures.

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Definitions:

Productivity of Labor

The measure of output per worker or per hour worked, indicating how effectively labor inputs are converted into goods or services.

Labor Supply

The total number of people available to work, either already employed or actively looking for work.

Urban Congestion

The excessive crowding and traffic in urban areas, leading to increased pollution, travel time, and stress.

Development Economists

Professionals who study economic development, focusing on improving fiscal, sectoral, and social conditions in developing countries.