The balance-related audit objective realizable value is not applicable when auditing Accounts payable.

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Realizable value is a concept that refers to the expected amount of cash that a business can generate from the sale of its assets. This concept is typically applicable to auditing the value of inventory, fixed assets, and accounts receivable, but not to accounts payable. Accounts payable reflects the outstanding amount of money that a business owes to its suppliers or vendors for goods or services received but not yet paid for. Therefore, the balance-related audit objective realizable value is not relevant to the audit of accounts payable.

The Balance-Related Audit Objective Realizable Value Is Not Applicable When