Accounts That Are Clearly Trivial or Immaterial Are Usually Ignored

question 20

Multiple Choice

Accounts that are clearly trivial or immaterial are usually ignored or only subjected to:

• A)confirmations.
• B)tests of controls.
• C)analytical procedures.
• D)observations.

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Definitions:

Prior Period Adjustments

Corrections of errors in financial statements of previous periods or adjustments for changes in accounting policies.