To Gather Evidence About Transactions with Related Parties,an Auditor Would

question 31

Multiple Choice

To gather evidence about transactions with related parties,an auditor would most likely ________.

• A)send account confirmations
• B)perform analysis of receivables turnover
• C)scan the receivables sub-ledger for credit balances
• D)scan the aged trial balance for names of officers and directors

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Definitions:

Party

A social gathering of invited guests, typically involving eating, drinking, and entertainment.

Study

The act of devoting time and attention to acquiring knowledge on an academic subject, especially through reading or research.

Discussion

An exchange of ideas or opinions on a particular issue, especially in a formal or organized setting, aimed at reaching a consensus or deepening understanding.

Hours

Units of time equivalent to 60 minutes, used to measure the duration of events or the length of time dedicated to activities.