The Auditor Is Performing Substantive Tests of Balances for Accounts

question 35

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

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Definitions:

High Standardization

The process or practice of implementing and developing technical standards based on the consensus of different parties.

Automotive Products

Goods and materials manufactured for use in vehicles, including parts, accessories, and fuels.

General Online Merchant

is a broad term for a business that sells a wide range of products through an online platform, catering to a diverse consumer base.

Consumer Electronics

Electronic devices intended for everyday use by individuals, including smartphones, televisions, and personal computers.