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Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343 Exercise 47
Which of the following audit procedures would not likely be performed for audits of shareholders' equity?
A) Read board of directors' minutes for authorization of equity transactions.
B) Confirm outstanding common and preferred stock with stock registrar.
C) Compare valuation of stock to published market prices.
D) Obtain management representation about number of shares issued and outstanding.
A) Read board of directors' minutes for authorization of equity transactions.
B) Confirm outstanding common and preferred stock with stock registrar.
C) Compare valuation of stock to published market prices.
D) Obtain management representation about number of shares issued and outstanding.
Explanation
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Verified
The correct answer is c.While auditing f...
Auditing & Assurance Services 6th Edition by Timothy Louwers
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