Which of the Following Auditing Procedures Is Ordinarily Performed Last

question 32

Multiple Choice

Which of the following auditing procedures is ordinarily performed last?

• A)Reading of the minutes of the directors' meetings.
• B)Confirming accounts payable.
• C)Obtaining a management representation letter.
• D)Testing of the purchasing function.

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Definitions:

Operating Activities

Business transactions and events related to the core business operations, including revenue and expense transactions that affect net income.

Income Statement

A financial statement that shows a company's revenues, expenses, and net income over a specific period of time.

Operating Activities

Components of a company's cash flow statement, which reflect the amounts of cash generated or spent from regular business operations.

Point In Time

A specific instant in the timeline when an event occurs, often used in financial reporting to refer to the recognition of transactions and events.