Q8

A:

Companies may deliberately understate accounts payable to overstate financial performance.

Group of answer choices

True

False

B:

In most accounting systems, payroll expenses are charged when the employees are actually paid rather than when the labor costs are actually incurred.

Group of answer choices

True

False

C:

As part of phase IV of the audit, auditors evaluate evidence they obtained during the first three phases of the audit to determine whether they should perform additional procedures for presentation and disclosure-related objectives.

Group of answer choices

True

False