Auditing question from Auditing & Assurance Services 16th edition by Alvin A. Arens, Randal J. Elder, Mark S. Beasley, and Chris E. Hogan.

. 19-24 (0BJECTIVE 19-5) The audit of nl Mincome is highly inter-related with the audit of a number of balance sheet accounts. For exam- ple, several balance sheet accounts that are directly tied to income or expense accounts include . Inventory * Accounts receivable . Property, plant, and equipment Long term investments a. List the income statement items likely associated with cach of the balance sheet b. When auditing the income and expense accounts, what are some of the substantive c. For the substantive analytical procedures listed in your answer to part (b), explain Notes and bonds payable. accounts listed above. analytical procedures used? what possible misstatement each procedure is designed to discover Required . 19-24 (0BJECTIVE 19-5) The audit of nl Mincome is highly inter-related with the audit of a number of balance sheet accounts. For exam- ple, several balance sheet accounts that are directly tied to income or expense accounts include . Inventory * Accounts receivable . Property, plant, and equipment Long term investments a. List the income statement items likely associated with cach of the balance sheet b. When auditing the income and expense accounts, what are some of the substantive c. For the substantive analytical procedures listed in your answer to part (b), explain Notes and bonds payable. accounts listed above. analytical procedures used? what possible misstatement each procedure is designed to discover Required