An audit program for the retained earnings account should include a step that requires verification of the

Question $32$Answer

a$.$

Market value used to charge retained earnings to account for a two$-$for$-$one stock split.

b$.$

Approval of the adjustment to the beginning balance as a result of a write$-$down of an account receivable.

c$.$

Proper accounting for a prior period adjustment.

d$.$

Gain or loss resulting from disposition of treasury shares.