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sc1250

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The audit procedures for the subsequent events review can be divided into two categories: 
(1) procedures normally integrated as a part of the verification of year-end account balances, and 
(2) those performed specifically for the purpose of discovering subsequent events. Which of the following procedures is in the second category?
◦ Correspond with attorneys.
◦ Test the collectability of accounts receivable by reviewing subsequent period cash receipts.
◦ Subsequent period sales and purchase transactions are examined to determine whether the cutoff is accurate.
◦ Compare the subsequent-period purchase price of inventory with the recorded cost as a test of lower of cost or market valuation.


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Marked as best answer by sc1250 on Aug 21, 2022

dianagarcia

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sc1250

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Reply 2 on: Aug 21, 2022
:D TYSM


Viet Thy

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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