In applying audit procedures, what is the best possible evidence an auditor can obtain or be...
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In applying audit procedures, what is the best possible evidence an auditor can obtain or be satisfied with each of the cases as follows: Contingent Liabilities ( Choose Heavy Machinery [ Choose) Finished goods [ Choose] inventory Retained Earnings [ Choose ) Petty Cash Fund [ Choose ] Miscellaneous Expense [Choose ] Cash in depository bank [ Choose ) Land [ Choose ) Inventory with consignee [Choose) Notes Receivable [Choose] <> <> <> Contingent Liabilities | Choose ) v [ Choose ] Heavy Machinery Review of related transactions Finished goods inventory Examination of vouchers Examination and count Retained Earnings Physical Examination Petty Cash Fund Confirmation Not given Miscellaneous Expense Detailed records satisfactory Cash in depository bank Recalculation Land Attorney's opinion Review by comparison Inventory with consignee Inspection Notes Receivable Physical examination Entire audit support this account • Previous Scanning and investigating In applying audit procedures, what is the best possible evidence an auditor can obtain or be satisfied with each of the cases as follows: Contingent Liabilities ( Choose Heavy Machinery [ Choose) Finished goods [ Choose] inventory Retained Earnings [ Choose ) Petty Cash Fund [ Choose ] Miscellaneous Expense [Choose ] Cash in depository bank [ Choose ) Land [ Choose ) Inventory with consignee [Choose) Notes Receivable [Choose] <> <> <> Contingent Liabilities | Choose ) v [ Choose ] Heavy Machinery Review of related transactions Finished goods inventory Examination of vouchers Examination and count Retained Earnings Physical Examination Petty Cash Fund Confirmation Not given Miscellaneous Expense Detailed records satisfactory Cash in depository bank Recalculation Land Attorney's opinion Review by comparison Inventory with consignee Inspection Notes Receivable Physical examination Entire audit support this account • Previous Scanning and investigating
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Answer is given point wise however there may be multiple procedures needed to be applied in order to build sufficient quantumnumber of evidence and ap... View the full answer
Related Book For
Organic Chemistry structure and function
ISBN: 978-1429204941
6th edition
Authors: K. Peter C. Vollhardt, Neil E. Schore
Posted Date:
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