Determining the existence of unrecorded liabilities

Assignment Help Accounting Basics

Reference no: EM13141509

Which of the following is the best audit procedure for determining the existence of unrecorded liabilities?

a. Examine confirmation requests returned by creditors whose accounts appear on a subsidiary trial balance of accounts payable.

b. Examine a sample of cash disbursements in the period subsequent to year-end.

c. Examine a sample of invoices a few days prior to and subsequent to the year-end to ascertain whether they have been properly recorded.

d. Examine unusual relationships between monthly accounts payable and recorded purchases.

Reference no: EM13141509

Questions Cloud

What mass of ccl4 will be formed : What mass of CCl4 will be formed if 1.20 moles of methane react with 1.55 moles of chlorine?

Realistic that a commitment to continuous improvement : 200 words..Is it realistic that a commitment to continuous improvement could actually replace operational controls? Strategic controls?

Find an equation of the tangent plane : Find an equation of the tangent plane to the parametric surface r(u,v) = (u*cos(v), u*sin(v), v) at the point defined by u=1, v=pi.

Find the mean income with a standard deviation : She surveys 100 randomly selected families and finds the mean income to be $96,321 with a standard deviation of $9555.With a0.05, is she correct?

Determining the existence of unrecorded liabilities : Which of the following is the best audit procedure for determining the existence of unrecorded liabilities?

Past-modern tendency to focus on the digital images : To what extent has the past-modern tendency to focus on the digital images (bicolage, pastiche, collage, galleries) and the social networking new response watered down the depth of coverage?

How many liters of gasoline would you need to buy : In Europe, gasoline efficiency is measured in km/L. If your car's gas mileage is 23.0 mi/gal, how many liters of gasoline would you need to buy to complete a 142-km trip in Europe?

Project profitability index : Suture Corporation's discount rate is 12%. If Suture has a 5-year investment project that has a project profitability index of zero, this means that:

Make the portion of the income statement beginning : The income tax rate for White Lightning is 30 percent. Make the portion of the income statement beginning with "income from continuing operations before income tax" for the yr ended December 31, 2004

User Account

All Pages