When Searching for Unrecorded Liabilities at Year-End, the Population Identified

question 67

Multiple Choice

When searching for unrecorded liabilities at year-end, the population identified for sampling would be:

• A)cash receipts from related parties recorded before year-end.
• B)creditors whose accounts appear on a subsidiary trial balance of accounts payable.
• C)cash disbursements recorded in the period subsequent to year-end.
• D)invoices dated a few days before and after year-end.

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Definitions:

Service Model

A framework that outlines the delivery and management of services, typically describing how information technology services are offered to users.

Cloud Computing

The provision of various services over the Internet, encompassing data storage, servers, databases, networking, and software.

Virtualization

The creation of a virtual (rather than actual) version of something, such as a server, storage device, network resources, or even an operating system.

Fault Tolerance

The ability of a system to continue operating properly in the event of the failure of some of its components.