Which of the following is the postclosing trial balance not designed to verify?

Q: Which of the following audit procedures is least appropriate for addressing the assertion of…

A: Assertion of Valuation is one of the 7 assertions of Auditing. Under the assertion of valuation, it…

Q: The "other information" is included in the audit opinion, or is it excluded? Justify your choice.

A: In accounting, auditing is the act of evaluating the financial statements of a corporate entity to…

Q: Describe the purpose and give examples of audit procedures in the search for unrecorded liabilities.

A: The search of unrecorded liabilities is the set of procedures designed to yield audit evidence of…

Q: What kinds of errors would cause difference in the trial balance. Also listexamples that would not…

A: Generally, errors such as not posting properly, only posting half of the journal entry in the ledger…

Q: Why or what are the reason or reasons that would cause the trial balance to be considered as…

A: Trial Balance - After transferring all the transactions into Ledgers Company closes the accounts and…

Q: What is a post-audit, and what is the purpose ofthis audit?

A: Audit:   An audit is an organised and self-regulated inspection of books of accounts. This…

Q: It's not clear why pre-numbering the reports received is essential. How may an auditor verify a…

A: Dialogue Systems are used in natural language processing to do the following: Dialogue systems are…

Q: Why is it necessary to pre-number reports received? In what way might an auditor examine a claim…

A: For natural language processing, the use of Dialogue Systems :

Q: Which analytical approaches are the most critical for note payable verification? Which sorts of…

A: Procedure for auditing: Audit procedures are the processes, strategies, and methods used by auditors…

Q: Why are the confirmation of payables is not a required audit procedure as it is with receivables?

A: The main objective of auditors is to conduct a thorough verification of the financial statements and…

Q: What is an unadjusted trial balance? An adjusted trial balance?

A: Definition:   A trial balance is a summary of all the ledger accounts. The trial balance is…

Q: unadjusted trial balance

A: trial balance : Statement that shows the ending balance of all the ledger accounts of a firm at the…

Q: is the postclosing trial balance not designed to verify

A: The Answer :

Q: In substantive procedures, why is the emphasis on the completeness assertion for liabilities instead…

A: Substantive procedures are the activities performed to ensure that there is no material misstatement…

Q: f the auditor want to assure that Receivables have not been sold. What assertion he or she want to…

A: Existence represents that whether accounts receivable of the company really exist on a particular…

Q: Which of the following characteristics is not considered essential to audit evidence? a.…

A: SOLUTION- CHARACTERISTICS NOT CONSIDERED AS AN ESSENTIAL OR NECESSARY TO AUDIT EVIDENCE- THE…

Q: opic - Violation of Recognition, errors and intentional misstatements Question: Please explain and…

A: A "true and fair" financial statement refers to the presentation of financial information that is…

Q: What is the purpose of dual dating the auditor’s report?

A:

Q: how would management know if the calculations were entered incorrectly in any kind of reporting?

A: Accounting errors are inadvertent errors in accounting entries. When an error or mistake is…

Q: How is a revenue-recognition abuse related to the percentage of completion method?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: Secondary purpose of audit documentation is to provide adequate defense in case of litigation for…

A: Audit documentation, often known as working papers as well as work papers, seems to be a work…

Q: Distinguish between the existence and completeness balance-relatedaudit objectives. State the effect…

A: An Audit is a process where the auditors’ process & identifies the misstatements or the risk…

Q: What types of fees and conditions are prohibited under RESPA?

A: Real Estate Settlement Procedures Act (RESPA)? The Real Estate Settlement Procedures Act, or RESPA,…

Q: What is tolerable misstatement? How do auditors use it when deciding whether account balancesare…

A: A Tolerable misstatement is the financial statement item amount that differs from the correct amount…

Q: The most probable audit processes to verify receivables written off as uncollectible include Explain…

A: Procedure for auditing: Audit procedures are the processes, strategies, and methods used by auditors…

Q: do deficiencies in internal control not always lead to material misstatement when recording…

A: internal controls rules and procedures that are implemented in order to ensure the integrity and…

Q: What is the general presumption for auditing Ending Balances?

A: Auditing:                   It is a systematic verification of the books of accounts of an…

Q: What is the upper limit on misstatements? What information does it provide the auditor?

A: A Misstatement is a statement having concealed facts or misleading information regarding the facts,…

Q: What are the different types of pending checks

A: The bank reconciliation statement is prepared to equalize the cash book and pass book balances.