Tests of Details of Transactions for Payables Balances Include

question 38

Multiple Choice

Tests of details of transactions for payables balances include:

• A) vouching recorded payables to supporting documentation.
• B) confirming payables with major suppliers by reviewing the accounts payable ledger or accounts payable master file.
• C) comparing financial statement presentation with applicable regulations and accounting standards.
• D) verifying directors' and executive officers' remuneration.

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Definitions:

Productivity Packages

are suites of applications like Microsoft Office that include tools for word processing, spreadsheets, presentations, and more.

Tax Preparation Software

An application program, such as Intuit’s TurboTax or H&R Block’s At Home, for preparing state and federal taxes. Each program offers a complete set of tax forms and instructions as well as expert advice on how to complete each form.

Freeware

Any copyrighted software that can be used for free.

Apple iWork Pages

A word processing application developed by Apple as part of the iWork productivity suite, offering various document creation and editing features.