Author Question: In searching for unrecorded liabilities, the purpose of the audit procedure to "examine underlying ... (Read 109 times)

ksmithunr · **on:** Aug 21, 2022

Question 1

In determining that the accounts payable cutoff is correct, it is essential that the cutoff tests be coordinated with the
◦ confirmation of payables.
◦ tests of long-term liabilities.
◦ observation of inventory.
◦ cash count.

Question 2

In searching for unrecorded liabilities, the purpose of the audit procedure to "examine underlying documentation for subsequent cash disbursements" is to
◦ uncover liabilities on the balance sheet which should not have been recorded until a subsequent period.
◦ find the documentation relating to a cash disbursement.
◦ uncover payments made in a subsequent accounting period for liabilities that existed at the balance sheet date.
◦ uncover cash disbursements recorded in a subsequent accounting period which should be recorded in this period.

heathercab · **Reply #1 on:** Aug 21, 2022

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