You are testing the dividend income recorded by LASTNATO company. Which audit procedure is least likely to validate the existence/occurrence assertion:
You are testing the dividend income recorded by LASTNATO company. Which audit procedure is least likely to validate the existence/occurrence assertion:
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter14: Intercorporate Investments In Common Stock
Section: Chapter Questions
Problem 3Q
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You are testing the dividend income recorded by LASTNATO company. Which audit
procedure is least likely to validate the existence/occurrence assertion:
choices:
Recalculation of dividend income
Vouching of remittance slips of dividend income
Reading the minutes of meeting
All of the choices will address the existence/occurrence assertion.
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