Classification is an important assertion for expenses because: (a) There is often an incentive to overstate expenses.
Question:
Classification is an important assertion for expenses because:
(a) There is often an incentive to overstate expenses.
(b) Some expenses are subject to specific disclosure requirements.
(c) Vouching is a useful audit technique for expenses.
(d) Auditing assets gives no evidence about certain expenses.
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Related Book For
Auditing A Practical Approach
ISBN: 978-1118849415
2nd Canadian edition
Authors: Fiona Campbell, Robyn Moroney, Jane Hamilton, Valerie Warren
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