Question: Explain the reason for the correct and wrong answer. Each letters, why is it correct and wrong? unrecorded liability? competitive bidding procedures are followed. .
Explain the reason for the correct and wrong answer. Each letters, why is it correct and wrong? 
unrecorded liability? competitive bidding procedures are followed. . Which of the following audit procedures is least likely to detect an a Analysis and recomputation of interest expense. b. Analysis and recomputation of depreciation expense. Mailing of standard bank confirmation form. d. Reading of the minutes of meetings of the board of direction. 5. Which of the following is the best audit procedure for determining the existence of unrecorded liabilities? a. Examination of confirmation requests returned by creditors whose accounts appear on a subsidiary trial balance of accounts payable. b. Examine unusual relationship between monthly accounts payable balances and recorded purchases. c. Examination a sample of invoices a few days prior to and subsequent to year-end to ascertain whether they have been properly recorded. Examine a sample of cash disbursements in the period subsequent to year-end
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