The auditors should take exception to assets presented at their estimate current values in personal financial statements.

Question

Quizplus · Accepted Answer

The auditors should not take exception to assets presented at their estimated current values in personal financial statements as they are permissible under certain circumstances according to Generally Accepted Accounting Principles (GAAP). However, the auditors should ensure that the estimates used are reasonable and consistent with GAAP.

The Auditors Should Take Exception to Assets Presented at Their