The Auditor Is Performing Substantive Tests of Balances for Accounts

question 112

Multiple Choice

The auditor is performing substantive tests of balances for accounts payable.What documentation would provide the best evidence for the ending balance?

• A)Vendors' invoices
• B)Vendors' statements
• C)Receiving reports
• D)Purchase orders

---

Definitions:

Strategic Knowledge Workers

Employees who possess specialized knowledge, skills, and abilities critical to the strategic direction and success of an organization.

Company's Strategy

A company's strategy is a carefully crafted plan of actions and decisions that helps a business achieve its long-term objectives and gain competitive advantage.

Skills

The abilities and expertise that individuals acquire through practice, training, or experience, which enable them to perform tasks effectively.

Strategic Planning Process

A structured and deliberate approach undertaken by organizations to define their strategy or direction and make decisions on allocating resources to pursue this strategy.