When auditing prepaid insurance, an auditor discovers that the original insurance policy on plant equipment is not

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When auditing prepaid insurance, an auditor discovers that the original insurance policy on plant equipment is not available for inspection.

The policy's absence most likely indicates the possibility of a(an)

a. Insurance premium due but not recorded.

b. Deficiency in the coinsurance provision.

c. Lien on the plant equipment.

d. Understatement of insurance expense.

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Auditing An Assertions Approach

ISBN: 9780471134213

7th Edition

Authors: G. William Glezen, Donald H. Taylor

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Question Posted: May 08, 2024 01:29 AM

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When auditing prepaid insurance, an auditor discovers that the original insurance policy on plant equipment is not

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Auditing An Assertions Approach

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