In a manufacturing company which one of the following audit procedures would give the least assurance of the existence of the assets in the general ledger balance of investment in stocks and bonds at the audit date?

Question

Quizplus · Accepted Answer

Examination of paid checks issued in payment of securities purchased provides the least assurance of the existence of the assets because it only confirms that payment was made, not whether the securities actually exist at the audit date.

In a Manufacturing Company Which One of the Following Audit