Most of the audit work on accounts payable is typically performed:
A)Before the balance sheet date.
B)At the balance sheet date in conjunction with inventory cutoff tests.
C)After the balance sheet date.
D)Simultaneously with the audit of accrued liabilities.

Question

Quizplus · Accepted Answer

Most of the audit work on accounts payable is typically performed after the balance sheet date. This allows auditors to examine transactions and balances as of the balance sheet date and to perform subsequent events procedures to identify liabilities that were not recorded as of the balance sheet date.

Most of the Audit Work on Accounts Payable Is Typically