When auditing the capital acquisition and repayment cycle, it is common to verify each transaction taking place in the cycle for the entire year as a part of verifying the balance sheet accounts.

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When auditing the capital acquisition and repayment cycle, it is common practice to verify each transaction that has occurred within the cycle during the year to ensure that the balance sheet accounts are accurate. This detailed transaction testing is necessary to detect any misstatements or errors that may have occurred within the cycle.

When Auditing the Capital Acquisition and Repayment Cycle, It Is