Which of the following sets of information does an auditor usually confirm on one form?
A)Accounts payable and purchase commitments.
B)Cash in bank and collateral for loans.
C)Inventory on consignment and contingent liabilities.
D)Accounts receivable and accrued interest receivable.

Question

Quizplus · Accepted Answer

Auditors typically confirm cash in bank and collateral for loans on one form because both are related to the financial institution's records and can be verified together.

Which of the Following Sets of Information Does an Auditor