evidence primarily in support of the assertion

Reference no:

When the auditors select a sample of items from the vouchers payable register for the last month of the period under audit and trace these items to underlying documents, the auditors are gathering evidence primarily in support of the assertion that:

a. Recorded obligations were paid.

b. Incurred obligations were recorded in the correct period.

c. Recorded obligations occurred prior to year-end.

d. Cash disbursements were recorded as incurred obligation

Accrued liabilities generally differ from accounts payable in that accrued liabilities:

a. Accumulate over time.

b. Are usually confirmed at year-end.

c. Depend upon the existence of a transaction for original recording of the account.

d. Are never included in cost of goods sold.

Reference no:

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