Which of the following are substantive tests of payables balances that are always performed?
A) Perform a search for unrecorded liabilities
B) Examine the client's bank reconciliations
C) Test the cut-off by inspecting the payments ledger and supporting documents to determine that transactions are recorded in the period
D) All of the above

Question

Quizplus · Accepted Answer

Substantive tests of payables typically include searching for unrecorded liabilities, examining bank reconciliations, and testing the cut-off to ensure transactions are recorded in the correct period.

Which of the Following Are Substantive Tests of Payables Balances