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

Question

Quizplus · Accepted Answer

Evidence obtained as close to the balance sheet date as possible is more persuasive because it reflects the account balances at the end of the fiscal period and minimizes the risk of subsequent transactions affecting the account balance. Evidence from various time periods throughout the year (A) may not accurately represent the account balance at the end of the fiscal period, and evidence only from transactions on the balance sheet date (B) may not capture all relevant transactions in the account. Evidence from the time period when transactions were most numerous (D) may be useful, but it is not necessarily the most persuasive for balance sheet accounts.

Evidence Is Usually More Persuasive for Balance Sheet Accounts When