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

Author Question: In the audit of notes payable, it is common to include tests of principal and interest payments as a ... (Read 117 times)

mccallkeeler

  • Full Member
  • ***
  • Posts: 149
on: Aug 21, 2022
In the audit of notes payable, it is common to include tests of principal and interest payments as a part of the audit of the acquisitions and payment cycle because the payments are in the cash disbursements journal that is being sampled. It is also normal to test these transactions as part of the capital acquisitions and repayment cycle because
◦ it is not unusual for the auditor to duplicate a process, thereby gathering a larger quantity of evidence.
◦ replicating the evidence will provide the auditor with a higher level of assurance.
◦ the tests done in the acquisitions and payments cycle will look only at the cash credit side so the tests done in the capital acquisitions and repayment cycle will look at the debit side of the transaction.
◦ due to the infrequency of these transactions, in many cases no transactions involving notes payable are included in the sample tests of acquisitions and payments.
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 mccallkeeler on Aug 21, 2022

BryanAultm

  • Full Member
  • ***
  • Posts: 168
    • Cheap Viagra dallas cowboys vs philadelphia eagles predictions
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 56% of students answer this correctly

Feel free to surf to my weblog ... enlarged prostate causes (24h-viagra-canada.com)

mccallkeeler

  • Member
  • Posts: 149
Reply 2 on: Aug 21, 2022
:D TYSM

xiazhe

  • Member
  • Posts: 331
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Common Bluetail Damselfly Common Bluetail Damselfly
McBurney’s point is the common location of pain in children and adolescents with appendicitis. McBurney’s point is the common location of pain in children and adolescents with appendicitis.
Key anatomical features of Homo habilis include reduced facial size, a parabolic palate, and some br Key anatomical features of Homo habilis include reduced facial size, a parabolic palate, and some br
Common Triggers of Asthma Common Triggers of Asthma
Common touch sensations. Common touch sensations.
Common Abbreviations and Symbols Used by Massage Therapists Cont Common Abbreviations and Symbols Used by Massage Therapists Cont
Video: Introduction to Sleep Apnea

For a complete list of videos, visit our video library