In an Audit of Contingent Liabilities, Which of the Following

question 42

Multiple Choice

In an audit of contingent liabilities, which of the following procedures would be least effective?

• A)Examining customer confirmation replies.
• B)Reviewing a bank confirmation letter.
• C)Examining invoices for professional services.
• D)Reading the minutes of the board of directors meetings.

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Definitions:

Technology

The application of scientific knowledge for practical purposes, especially in industry and everyday life, encompassing both tangible tools and digital advancements.

Joseph Ernest Renan

A French expert in Semitic languages and civilizations, philosopher, historian, and writer, known for his influential works on the history of religion and his philosophical approach to nationalism.

Scriptures

The sacred writings of a religion, revered and followed by its believers, such as the Bible in Christianity, the Quran in Islam, and the Vedas in Hinduism.

Historical Document

A record or artifact that provides information about the past, including manuscripts, letters, diaries, or any written material of historical significance.