The Auditor Has a Responsibility to Review Transactions and Activities

question 78

Multiple Choice

The auditor has a responsibility to review transactions and activities occurring after the balance sheet date to determine whether anything occurred that might affect the statements being audited. The procedures required to verify these transactions are commonly referred to as the review for

• A) contingent liabilities.
• B) subsequent year's transactions.
• C) late unusual occurrences.
• D) subsequent events.

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Definitions:

Transitional Kindergarten

An educational program serving as a bridge between preschool and kindergarten for children who are not yet old enough to enroll in kindergarten.

Exposed to Violence

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The process of facing, understanding, and overcoming one’s anxieties or phobias.

NAEYC

The National Association for the Education of Young Children, a professional organization in the United States that advocates for high-quality early childhood education.