When Auditing Accounts Payable,the Greatest Emphasis Is Placed on

question 43

Multiple Choice

When auditing accounts payable,the greatest emphasis is placed on

• A)the existence assertion.
• B)the completeness assertion.
• C)the presentation assertion.
• D)the disclosure assertion.

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Definitions:

Employer

An individual or organization that hires and pays people to work for them.

Entire Stock

The complete inventory of goods and products that a business has available for sale at any given time.

Wrongful Acts

Wrongful acts refer to actions or behaviors that are illegal or morally incorrect, often leading to harm or injury and potentially resulting in legal liability.

Principal

The main party involved in a contract or agreement, or the head of a school.