Which of the following items listed provide the best opportunity to find contingent liabilities that should be recorded?
A) Tips and complaints
B) Lifestyle symptoms
C) Documentary symptoms
D) Analytical symptoms

Question

Quizplus · Accepted Answer

Documentary symptoms refer to items such as contracts, legal documents, and invoices that provide evidence of possible contingent liabilities. These documents should be examined carefully to ensure that all potential liabilities are recorded. Tips and complaints (A) may provide some indications of possible liabilities, but they are not reliable sources of information. Lifestyle symptoms (B) and analytical symptoms (D) are not relevant in this context.

Which of the Following Items Listed Provide the Best Opportunity