Once the Auditor Has Determined the Company's Policy for Accruing

question 78

Multiple Choice

Once the auditor has determined the company's policy for accruing wages and knows it is consistent with that of previous years, the appropriate audit procedure to test for cutoff and accuracy is to:

• A) recalculate the client's accruals.
• B) compare the ledger balance with the journal and the tax form.
• C) confirm the amount with employees.
• D) compare the recorded accrued wages with the amount approved in the minutes of the Board.

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Definitions:

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