The overall objective in the audit of accounts payable is to determine whether accounts payable:
A)is fairly stated and properly disclosed.
B)is overstated.
C)is understated.
D)is accurately stated.

Question

Quizplus · Accepted Answer

The overall objective in the audit of accounts payable is to determine whether accounts payable is fairly stated and properly disclosed, which is essential for the fair presentation of financial statements. The objective is not to determine whether accounts payable is overstated, understated, or accurately stated.

The Overall Objective in the Audit of Accounts Payable Is