An Examination of the Balance in the Accounts Payable Account

question 70

Multiple Choice

An examination of the balance in the accounts payable account is ordinarily not designed to:

• A)determine that the amounts represent obligations of the company.
• B)verify that accounts payable were properly authorized.
• C)ascertain the reasonableness of recorded liabilities.
• D)determine that all existing liabilities at the balance sheet date have been recorded.

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Definitions:

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, suggesting that people are motivated by five basic categories of needs: physiological, safety, love/belonging, esteem, and self-actualization, which they pursue in a hierarchical order.

Esteem Needs

According to Maslow's hierarchy of needs, these are the fourth tier of human needs, focusing on self-esteem, respect, status, recognition, strength, and freedom.

Love And Belongingness

A human motivational need, according to Maslow's hierarchy of needs, involving interpersonal relationships, affection, group membership, and love.

Self-Actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone, the highest level of Maslow's hierarchy of needs.