The auditor is performing substantive tests of balances for accounts payable.What documentation would provide the best evidence for the ending balance?
A)Vendors' invoices
B)Vendors' statements
C)Receiving reports
D)Purchase orders

Question

Quizplus · Accepted Answer

Vendors' statements provide the best evidence for the ending balance of accounts payable as they reflect the vendor's record of what is owed by the company, including any outstanding invoices and adjustments.

The Auditor Is Performing Substantive Tests of Balances for Accounts