Only ________ involve physical examination and confirmation.
A) tests of controls
B) tests of transactions
C) tests of balances
D) analytical procedures

Question

Quizplus · Accepted Answer

Tests of balances involve physical examination and confirmation as they are designed to verify the ending balance of an account. This can include counting cash, weighing inventory, or confirming receivables, which are all physical or external confirmation methods to ensure the accuracy of the financial statements.

Only ________ Involve Physical Examination and Confirmation