Which of the Following Is Not a Common Audit Procedure

question 103

Multiple Choice

Which of the following is not a common audit procedure used to search for contingent liabilities?

• A) examine letters of credit
• B) examine payroll reports
• C) review internal revenue agent reports
• D) analyze legal expense

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Definitions:

Acetals

Chemical compounds formed from the reaction between an aldehyde or ketone and a diol, featuring two ether-like oxygen atoms bonded to the same carbon.

PhLi

Phenyllithium, a strong organolithium reagent used in the formation of carbon-carbon bonds in organic synthesis.

NaBH

Likely refers to a sodium borohydride compound, NaBH4, used as a reducing agent in organic chemistry.

MgBr

Likely a shorthand for a magnesium bromide compound, which can act as a Grignard reagent in organic synthesis.