SAS No. 99 (now PCAOB AS 2401) states that the auditor has the responsibility to plan and perform the audit to obtain reasonable assurance about whether financial statements are free of material misstatement, whether caused by error or fraud.SAS No. 99 also requires all of the following except:   A. Obtaining the information needed to identify risks of material misstatement due to fraud.   B. Preparation of a fraud prevention plan.   C. Description and characteristics of fraud.   D. Importance of exercising professional skepticism.

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A: Differential analysis is a technique which shows the difference in total costs with two alternative ...

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A: Increase in expense should be debited. Increase in liabilitie should be credited.

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A: Interest is calculated on face value of a bond. 

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A: Solution Balance sheet is a statement of  business assets , liabilities and owners equity as of any ...

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Q: which statement is FALSE as it relates to a trade discount?

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A: The journal entries are given as,

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A: Hi student Since there are multiple subparts, we will answer only first three subparts.

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A: The answer is stated below:

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Fraud

Fraud in accounting is the planned manipulation of financial documents to make a false appearance of corporate financial health. Moreover, it includes an employee, accountant, or the company itself misleading investors and shareholders.