This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: When auditing prepaid insurance, (Read 100 times)

BSITTON

  • Full Member
  • ***
  • Posts: 150
on: Aug 21, 2022

Question 1

When an auditor recomputes the unexpired portion of prepaid insurance, they are satisfying which audit objective?
◦ completeness
◦ existence
◦ accuracy and detail tie-in
◦ rights

Question 2

When auditing prepaid insurance,
◦ for many audits, significant substantive procedures are needed if the control risk is low.
◦ companies often have a standard monthly journal entry to reclassify prepaid insurance as insurance expense.
◦ the emphasis in the tests of details of balances is on insurance expense.
◦ the auditor must prepare the insurance register.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by BSITTON on Aug 21, 2022

Talvinder.Singh

  • Full Member
  • ***
  • Posts: 169
Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


BSITTON

  • Member
  • Posts: 150
Reply 2 on: Aug 21, 2022
Great answer, keep it coming :)

marict

  • Member
  • Posts: 304
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

When the United States gets stuck over a controversial issue—usually something a divided Congress ca When the United States gets stuck over a controversial issue—usually something a divided Congress ca
Types of Health Insurance Service Coverage Types of Health Insurance Service Coverage
Sample of an insurance card. Sample of an insurance card.
How to avoid car insurance claims How to avoid car insurance claims
Video: Body plan of euglena Animation

For a complete list of videos, visit our video library