When an Auditor Finds a Debit to Accounts Payable,which of the Following

question 20

Multiple Choice

When an auditor finds a debit to accounts payable,which of the following accounts is most likely to be credited?

• A)Accounts Receivable.
• B)Accrued liabilities.
• C)Cash.
• D)Cost of goods sold.

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Definitions:

Hypotheses

Proposed explanations made on the basis of limited evidence as a starting point for further investigation.

Starting Salaries

The initial compensation that an employer offers to a new employee.

Null Hypotheses

Statements for statistical tests that assume no significant relationship or difference between the tested groups or variables, serving as a default position to be tested against.

Retarding Spoilage

Methods or techniques used to slow down the deterioration of food or other perishable goods.