performing an audit, you encounter an adjusting journal entry recorded at year-end that contains a debit to rental revenue and a credit to deferred rental revenue. The purpose of this journal entry is to record

The auditor is MOST likely to learn of retirements of equipment through which of the following? a. Review of the purchase and allowance account. b. Review of the sales discount account. c. Analysis of the credits to the accumulated depreciation account. d. Review of insurance policy riders. e. Confirmation of recorded credits to the accounts payable account.

An auditor is likely to perform each of the below procedures to obtain evidence regarding the potential understatement of accounts payable at year-end (i.e., the Completeness assertion) except…   Question options:   Inspect purchase orders and receiving reports for accounts payable recorded at year-end.   Inspect the open invoice file for invoices to be paid after year-end.   All options describe procedures that can be used to identify a potential understatement of accounts payable.   Analyze cash disbursements made during the first few weeks of the subsequent year and inspect supporting documentation for each disbursement.

A basic step in auditing unclaimed salaried and wages is to verify disposition of the account subsequent to the statement of financial position date. True or False?