When the Auditor Has Completed the Tests of Details of Balances

question 56

Multiple Choice

When the auditor has completed the tests of details of balances and enters phase IV of the audit process, she or he must still perform audit procedures for which of the following?

• A) contingent liabilities and employee compensation
• B) contingent liabilities and subsequent events
• C) subsequent events and contractual commitments
• D) subsequent events and unrecorded liabilities

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Definitions:

Working Memory

A cognitive system with a limited capacity that is responsible for temporarily holding information available for processing and manipulation.

Binge Drinking

The consumption of an excessive amount of alcohol in a short period of time, typically as a way to achieve drunkenness rapidly.

Academic Stress

The emotional or mental strain experienced by students due to the demands of their educational environment.

Class Attendance

The act of being present at scheduled academic classes or lectures.