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

Author Question: When auditing prepaid insurance, (Read 109 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
Thanks for the timely response, appreciate it

kalskdjl1212

  • Member
  • Posts: 353
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

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: Inflammation

For a complete list of videos, visit our video library