State the main audit objectives for: (a) Purchases and payroll transactions (b) Accounts payable balances.
Question:
State the main audit objectives for:
(a) Purchases and payroll transactions
(b) Accounts payable balances.
Accounts PayableAccounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...
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Step by Step Answer:
The audit objectives derived from managements assertions for purchases payables and payroll are Exis...View the full answer
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Related Book For 
Auditing A Practical Approach
ISBN: 978-1119566007
3rd Canadian edition
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton, Valerie Warren
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