Question: A client uses a suspense account for unresolved questions whose final accounting has not been determined. If a balance remains in the suspense account at
A client uses a suspense account for unresolved questions whose final accounting has not been determined. If a balance remains in the suspense account at year end, the auditor would be most concerned about
A Suspense debits that management believes will benefit future operations.
B Suspense debits that the auditor verifies will have realizable value to the client.
C Suspense credits that management believes may increase liabilities.
D Suspense credits that the auditor determines to be customer deposits.
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