Select the necessary words from the list of possibilities to complete the following statements. Statements Answer 1. Because the auditors are primarily concerned with the accounts payable is performed after the year-end date. of recorded payables, much of the audit work on 2. An of liabilities will exaggerate the financial strength of a company. 3. When observing the taking of a physical inventory at year-end, the auditors will record the serial number of the last issued to verify the accuracy of the cutoff of accounts payable. 4. Auditors often obtain written from management regarding the existence of unrecorded payables. 5. Accounts payable from important vendors should be confirmed, even though the accounts have at year-end. balances