Evidence Is Usually More Persuasive for Balance Sheet Accounts When

question 160

Multiple Choice

Evidence is usually more persuasive for balance sheet accounts when it is obtained

• A) as close to the balance sheet date as possible.
• B) only from transactions occurring on the balance sheet date.
• C) from various times throughout the client's year.
• D) from the time period when transactions in that account were most numerous during the fiscal period.

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Definitions:

Subsidence

Occurs when a portion of Earth’s surface gradually settles downward.

Saltwater Intrusion

The movement of saline water into freshwater aquifers, which can lead to contamination of drinking water sources and other consequences.

Dams

Structures built across rivers or streams to control water flow, used for water storage, flood prevention, and electricity generation.

Irrigated Land

Agricultural land that is supplied with water through artificial means to promote crop growth.