The Audit Objective That Requires That Existing Notes Payable Be

question 1

Multiple Choice

The audit objective that requires that existing notes payable be included in the notes payable schedule is satisfied by performing which of the following audit procedures?

• A) Confirm notes payable.
• B) Trace the total of the notes payable schedule to the general ledger.
• C) Review the notes payable schedule to determine whether any are related parties.
• D) Review the bank reconciliation for new notes credited directly to the bank account by the bank.

---

Definitions:

Table

A structured set of data arranged in rows and columns, facilitating easy storage, retrieval, and manipulation of data.

Form Wizard

A guided tool that simplifies the process of creating forms by providing step-by-step instructions and options.

Select A Layout

A process or option within design software where the user chooses a predefined arrangement or format for elements on a page or screen.

Select A Sort Order

The process of choosing the sequence (ascending or descending) in which data is arranged.