Which of the Following Audit Procedures Would Not Likely Be

question 42

Multiple Choice

Which of the following audit procedures would not likely be performed for audits of shareholders' equity?

• A)Read board of directors' minutes for authorization of equity transactions.
• B)Confirm outstanding common and preferred stock with stock registrar.
• C)Compare valuation of stock to published market prices.
• D)Obtain management representation about number of shares issued and outstanding.

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