A date at which audit evidence is collected earlier than the balance sheet date is referred to as what?
A)Subsequent date.
B)Cutoff period.
C)Significant date.
D)Interim date.

Question

Quizplus · Accepted Answer

An interim date is a date at which audit evidence is collected prior to the balance sheet date, but after the beginning of the fiscal year. This date is used to obtain evidence about the accounts that have activity throughout the year, rather than just at year-end. Therefore, choice D is the correct answer. The other choices do not accurately describe an audit date that occurs prior to the balance sheet date.

A Date at Which Audit Evidence Is Collected Earlier Than