Which of the Following Is the Best Audit Procedure for Determining

question 4

Multiple Choice

Which of the following is the best audit procedure for determining the completeness of the accrued liabilities listing?

• A)Examine unusual relationships between monthly accounts payable balances and recorded purchases.
• B)Examine confirmation requests returned by creditors whose accounts appear on a subsidiary trial balance of accounts payable.
• C)Examine a sample of cash disbursements in the period subsequent to year-end.
• D)Examine a sample of invoices a few days prior to and subsequent to year-end to ascertain whether they have been properly recorded.

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Definitions:

Final Exam Week

A designated period at the end of an academic term during which students take final exams, assessing their knowledge and understanding of the course material.

Stress

A physical and emotional reaction that people experience as they encounter challenges in life; can be due to both positive and negative experiences.

Optimist

An individual who tends to maintain a positive outlook on life and anticipates favorable outcomes, focusing on potential opportunities even in the face of difficulties.

Denial

A defense mechanism where an individual refuses to accept reality or facts, blocking external events from awareness.