Evidence is usually more persuasive for balance sheet accounts when it is obtained:
A) as close to the balance sheet date as possible.
B) from the time period when transactions in that account were most numerous during the financial period.
C) from various times throughout the client's year.
D) only from transactions occurring on the balance sheet date.

Question

Quizplus · Accepted Answer

Obtaining evidence as close to the balance sheet date as possible provides the most up-to-date and accurate picture of the account's balance at that specific point in time. This is particularly important for balance sheet accounts that are subject to frequent changes, such as cash or accounts receivable. Evidence from other periods may not accurately reflect the account's balance at the balance sheet date.

Evidence Is Usually More Persuasive for Balance Sheet Accounts When