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.
 A client uses a suspense account for unresolved questions whose final

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!