You are assigned to perform a review of minutes of meeting for the year end audit ending December 31, 2021. Which of the following agendas would least likely affect the total liabilities of the entity? Group of answer choices
5. You are assigned to perform a review of minutes of meeting for the year end audit ending December 31, 2021. Which of the following agendas would least likely affect the total liabilities of the entity?
Group of answer choices
a. The payment of real property taxes for the year 2021 at the beginning of 2021.
b. Property dividends declared on December 27, 2021.
c. The approval of the board of directors of the issuance of a 5-year term bond last September 2021.
d. The settlement of a pending litigation with another entity on January 5, 2022.
6. As the audit associate, you were asked by the senior associate to check the completeness of confirmation letters. Upon your review, there is a supplier that has not yet given their reply. What alternative
Group of answer choices
a. Perform analytical procedures
b. Send another confirmation letter
c. Vouch subsequent payments
d. Review the invoice register until audit report date
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