Question
1.The search for unrecorded liabilities consists of procedures designed specifically to detect _______. A. significant unrecorded obligations at the balance sheet date (or as of
1.The search for unrecorded liabilities consists of procedures designed specifically to detect _______.
| A. significant unrecorded obligations at the balance sheet date (or as of an interim date) | ||
| B. insignificant unrecorded obligations at the balance sheet date (or as of an interim date) | ||
| C. significant unrecorded obligations at the income statement date (or as of an interim date) | ||
| D. significant recorded obligations at the balance sheet date (or as of an interim date) |
Question 2
If factory workers are paid based on time and/or productivity, there is likely high inherent risk for which of the following key assertions?
| M. Accuracy | ||
| N. Cutoff | ||
| O. Completeness | ||
| P. None of the answer choices is correct. |
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
