a. Which accounts may be most susceptible to overstatement? To understatement? b. Why do you think a

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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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Auditing An International Approach

ISBN: 978-0071051415

6th edition

Authors: Wally J. Smieliauskas, Kathryn Bewley

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Question Posted: Jan 09, 2015 09:30 AM

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a. Which accounts may be most susceptible to overstatement? To understatement? b. Why do you think a

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Risk of Misstatement in Various Accounts a Inventory understatements may occur from counting and pri...View the full answer

Auditing An International Approach

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