In Testing the Completeness Assertion for a Liability Account, an Auditor

question 6

Multiple Choice

In testing the completeness assertion for a liability account, an auditor ordinarily works from the:

• A)financial statements to the potentially unrecorded items.
• B)potentially unrecorded items to the financial statements.
• C)accounting records to the supporting evidence.
• D)trial balance to the subsidiary ledger.

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Definitions:

Business-To-Consumer (B2C)

A transaction model where businesses sell products or services directly to consumers, typically through retail or online platforms.

Supply Chain

A network of suppliers, manufacturers, and distributors involved in producing, delivering, and selling products.

Marketing Intermediary

refers to businesses or individuals that act as intermediaries within the distribution channel, facilitating the sale of products from producers to end consumers.