An Auditor Will Ordinarily Examine Invoices from Lawyers Primarily in Order

question 6

Multiple Choice

An auditor will ordinarily examine invoices from lawyers primarily in order to:

• A)Substantiate accruals.
• B)Assess the legal ramifications of litigation in progress.
• C)Estimate the dollar amount of contingent liabilities.
• D)Identify possible unasserted litigation,claims,and assessments.

---

Definitions:

Decrease Production

The act of reducing the quantity of goods produced by a business or economy.

Firm Should

Advises or considerations regarding strategic decisions that businesses ought to follow to achieve objectives such as profitability, growth, or sustainability.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.

Maximum Willingness

The highest amount an individual or entity is ready to pay for a good or service.