The Audit of Which of the Following Balance Sheet Accounts

question 62

Multiple Choice

The audit of which of the following balance sheet accounts doesnot normally result in verification of an income statement account?

• A)Cash.
• B)Accounts receivable.
• C)Property,plant,and equipment.
• D)Intangible assets.

Distinguish between donee, creditor, and incidental beneficiaries in the context of contract law.

Identify conditions under which certain contractual rights cannot be assigned.

Know the legal outcomes related to disputes involving assignments and third-party rights.

Understand the effect of anti-assignment clauses in contracts.