Accounts Payable Is Affected by Purchase Transactions That Increase the Account

question 40

True/False

Accounts payable is affected by purchase transactions that increase the account balance and payment transactions that decrease the balance, and thus, detection risk for payablassertions is affected by the inherent and control risk factors related to both these transaction classes.

---

Definitions:

Transverse Colon

The transverse colon is a part of the large intestine that extends across the abdomen from the ascending colon to the descending colon.

Sigmoid Colon

The S-shaped segment of the colon that connects the descending colon to the rectum, involved in the final stages of digesting solid waste.

Hepatic Sinusoids

Specialized vascular channels within the liver that enhance the transfer of substances between the blood and liver cells.

Portal Triad

A distinctive arrangement within the liver that includes a bile duct, portal vein, and hepatic artery, essential for liver function.