Which of the Following Accounts Would Most Likely Be Audited

question 108

Multiple Choice

Which of the following accounts would most likely be audited in connection with a related balance sheet account?

• A)Property Tax Expense.
• B)Payroll Expense
• C)Research and Development
• D)Legal Expense

---

Definitions:

Owners

Individuals or entities that legally possess, control, and derive benefits from property or a business.

Shareholders

Individuals or entities that own shares in a corporation, giving them partial ownership and possibly the right to vote on corporate matters.

Daily Management

The ongoing coordination and oversight of a business or organization's operations and activities on a day-to-day basis to ensure efficiency and effectiveness.

State Statutes

Laws established by legislative bodies at the state level in the United States, governing various aspects of daily life and business operations.