Which of the Following Statements Is Correct Regarding Accounts Payable

question 12

Multiple Choice

Which of the following statements is correct regarding accounts payable and the auditor's procedures?

• A)Because it can be difficult to discover a transaction that has not been recorded,the audit objective of completeness drives many of the substantive procedures applied to these balances.
• B)A judgment whether an unrecorded payable should be recorded before the financial statements are prepared depends entirely upon the source of the payable.
• C)The confirmation of accounts payable selected from the year-end trial balance of such accounts is most effective in discovering unrecorded liabilities.
• D)Unrecorded payables are often discovered through examining vouchers payable entered into the voucher register prior to the balance sheet date.

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Definitions:

Klinefelter Syndrome

A genetic condition affecting males characterized by an extra X chromosome, leading to symptoms such as reduced masculinity, infertility, and cognitive impacts.

Genetic Male

An individual whose sex chromosomes are XY, determining male biological characteristics at birth.

Androgynous Views

Perspectives that embrace both masculine and feminine qualities, advocating for flexibility beyond traditional gender roles.

Intersex

A term used to describe individuals born with physical sex characteristics that do not fit typical binary notions of male or female bodies.