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Explain the components of an audit trail for verifying changes to accounts payable. Your answer should specify how those components can be used to verify
Explain the components of an audit trail for verifying changes to accounts payable. Your answer should specify how those components can be used to verify the accuracy,
completeness, and validity of all purchases, purchase returns, purchase discounts, debit memos, and cash disbursements.
To verify the accuracy of accounts payable, all amounts owed to
would be
the balance in the general ledger
account.
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