Working papers document the audit evidence collected by the auditors during the financial statement audit. The lead
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Question:
Working papers document the audit evidence collected by the auditors during the financial statement audit. The lead schedule for accounts payable will appear at the beginning of the accounts payable section of the audit file. Which of the following would be included on the lead schedule?
Pre-adjusted current year’s balance and prior year’s balance
Details of transactions tested for payables
Conclusion reached on the overall opinion of the balance in accounts payable
Agreement of current year’s balance to payables balance on trial balance
Difference between pre-adjusted balance and prior year balance
Documentation showing the vouching of specific accounts payable balances
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