The Audit of Which of the Following Balance Sheet Accounts

question 62

Multiple Choice

The audit of which of the following balance sheet accounts doesnot normally result in verification of an income statement account?

• A)Cash.
• B)Accounts receivable.
• C)Property,plant,and equipment.
• D)Intangible assets.

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Definitions:

Optimal Number

Describes the best or most efficient amount or level of something (e.g., inventory, employees) for achieving a specific goal or maximizing performance.

Supply Chain Management

Supply Chain Management is the coordinated management of the processes and functions involved in producing and delivering goods or services from suppliers to customers.

Souvenirs

Items purchased or collected as reminders of a particular place, event, or experience, often associated with tourism.

Expected Profit

An estimate of the amount of profit that a business anticipates earning over a specific period, based on forecasts and assumptions about future conditions.