Why Should Auditors Be Particularly Concerned with "Miscellaneous," "Other," and "Clearing

question 1

Multiple Choice

Why should auditors be particularly concerned with "miscellaneous," "other," and "clearing" accounts classified as revenues or expenses?

• A)These accounts are likely to relate to going-concern matters.
• B)These accounts are often more difficult to audit using normal substantive procedures.
• C)These accounts may represent attempts of earnings management.
• D)These accounts are likely to require the assistance of a specialist.

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Definitions:

Princess Yongtai

A Tang Dynasty princess known for her tragic early death, her tomb is celebrated for its beautifully preserved mural paintings.

Six Dynasties

A period in Chinese history (220–589 CE) known for its fragmentation into six successive dynasties in the south, coexisting with the Northern dynasties.

Unified Sillan

Refers to the period or condition of unification in the history of the Silla dynasty in Korea.

Shakyamuni Buddha

The historical founder of Buddhism, Siddhartha Gautama, who attained enlightenment and is known as the Buddha.