a. Which accounts may be most susceptible to overstatement? To understatement? b. Why do you think a
Question:
a. Which accounts may be most susceptible to overstatement? To understatement?
b. Why do you think a company might permit asset accounts to be understated?
c. Why do you think a company might permit liability accounts to be overstated?
d. Which direction of misstatement is most likely: income overstatement or income understatement?
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Risk of Misstatement in Various Accounts a Inventory understatements may occur from counting and pri...View the full answer
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Auditing An International Approach
ISBN: 978-0071051415
6th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
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