Which of the following may not be included in a typical audit program for auditing Retained Earnings? Group of answer choices Reference to market quotations for the granting of share options to employees. Determination of the effect of a change in policy regarding the use of average cost formula for inventories for the current year, where the entity previously elected the first-in-first-out cost formula. Reference to market quotations for the declaration of a 10% stock dividends. Reference to fair market value of real property declared as property dividends.
Which of the following may not be included in a typical audit program for auditing Retained Earnings? Group of answer choices Reference to market quotations for the granting of share options to employees. Determination of the effect of a change in policy regarding the use of average cost formula for inventories for the current year, where the entity previously elected the first-in-first-out cost formula. Reference to market quotations for the declaration of a 10% stock dividends. Reference to fair market value of real property declared as property dividends.
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter13: Auditing Debt, Equity, And Long-term Liabilities Requiring Management Estimates
Section: Chapter Questions
Problem 32CYBK
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Question
Which of the following may not be included in a typical audit program for auditing Retained Earnings ?
Group of answer choices
Reference to market quotations for the granting of share options to employees.
Determination of the effect of a change in policy regarding the use of average cost formula for inventories for the current year, where the entity previously elected the first-in-first-out cost formula.
Reference to market quotations for the declaration of a 10% stock dividends.
Reference to fair market value of real property declared as property dividends.
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