It is essential that the detail on an audit schedule is designed to list the detail and show the verification of support for a balance sheet account, and that this schedule also reconciles with the trial balance.

Question

Quizplus · Accepted Answer

An audit schedule should include detailed information to support and verify balance sheet accounts, and it should also reconcile with the trial balance to ensure accuracy and completeness of the financial statements. Therefore, the statement is true.

It Is Essential That the Detail on an Audit Schedule