If Payables Turnover Has Increased Significantly Since the Prior Year

question 21

Multiple Choice

If payables turnover has increased significantly since the prior year, this is an indication that which of the following assertions for accounts payable might be violated?

• A)Existence or occurrence.
• B)Completeness.
• C)Rights and obligations.
• D)Valuation and allocation.

---

Definitions:

Federal Government

The central authority of the United States, composed of the legislative, executive, and judicial branches, responsible for governing the country at a national level.

African-Americans

Citizens of the United States with total or partial ancestry from any of the black racial groups of Africa.

New Deal

A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States during the 1930s, designed to help the country recover from the Great Depression.

Marian Anderson

A celebrated American contralto, renowned for her extraordinary vocal range and versatility, as well as her groundbreaking role as an African American artist in the mid-20th century.