Describe common audit procedures to audit dividends and retained earnings.
Answer to relevant QuestionsList three substantive analytical procedures that the auditor might use in auditing the income statement.The long- term debt working paper on the next page was prepared by client personnel and audited by Andy Fogelman, an audit assistant, during the calendar year 2013 audit of American Widgets, Inc., a continuing audit client. ...Explain why the standard bank confirmation form does not identify all information about an entity’s bank accounts or loans.Multiple Choice1. The tick mark most likely indicates that the amount was traced to the a. December cash disbursements journal. b. Outstanding check list of the applicable bank reconciliation. c. January cash disbursements ...Define what is meant by contingent liability. What three categories are used to classify a contingent liability? Give four examples of a contingent liability.
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