The category of misstatements relevant to the purchasing and payroll cycles that consists of error or irregularities in approach, theory, or calculation associated with the expensing of assets or understatement of liabilities is ______.
A)expense recording issues
B)liabilities and payables
C)accrual estimate failure
D)reserve recording issues

Question

Quizplus · Accepted Answer

Expense recording issues are misstatements that result from errors or irregularities in the approach, theory, or calculation associated with the expensing of assets or understatement of liabilities.

The Category of Misstatements Relevant to the Purchasing and Payroll