In the audit of accounting estimates,such as the allowance for doubtful accounts,the auditor strives to provide reasonable assurance that
A)all material accounting estimates have been developed properly.
B)the estimates are reasonable.
C)the estimates are presented in accordance with GAAP.
D)all of the above are true.

Question

Quizplus · Accepted Answer

In the audit of accounting estimates, the auditor's objective is to provide reasonable assurance that all material accounting estimates (A) have been developed properly, that the estimates are reasonable (B), and that they are presented in accordance with GAAP (C). Therefore, choice (D) is the correct answer as it includes all of the above.

In the Audit of Accounting Estimates,such as the Allowance for Doubtful