The Client May Use a Variety of Methods to Understate

question 70

Multiple Choice

The client may use a variety of methods to understate expenses and payables.These include

• A)failure to record accounts payable at the end of the year
• B)failure to review payroll expense or fringe benefits at year end
• C)failure to record accrued expenses at year end
• D)failure to accrue interest income at year-end
• E)failure to review long term liabilities
• F)both A and C
• G)both B and D

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Definitions:

Metabolism

The biochemical processes that occur within a living organism, necessary for maintaining life, including converting food into energy.

Small Intestine

A part of the digestive system where most of the digestion and absorption of nutrients occurs.

Digested Food

Nutrients and substances that have been broken down by the digestive system from ingested food to be absorbed and used by the body.

Semi-Starvation

A condition of prolonged inadequate caloric intake, below the level necessary for maintenance of a healthy body weight.