Which of the following accounts would most likely be audited in connection with a related balance sheet account?
A)Property Tax Expense.
B)Payroll Expense
C)Research and Development
D)Legal Expense

Question

Quizplus · Accepted Answer

Property Tax Expense is closely related to Property, Plant, and Equipment balance sheet account as it represents a liability that needs to be paid in connection with those assets. Therefore, it is more likely to be audited in connection with the related balance sheet account.

Which of the Following Accounts Would Most Likely Be Audited