The client may use a variety of methods to understate expenses and payables.These include
A)failure to review accounts payable at the end of the year
B)failure to record payroll expense or fringe benefits at year end
C)failure to record accrued expenses at year end
D)failure to accrue interest income at year-end
E)failure to review long term liabilities
F)both A and D
G)both B and C

Question

Quizplus · Accepted Answer

The client may use the methods of failing to record payroll expense or fringe benefits at year end and failing to record accrued expenses at year-end to understate expenses and payables.

The Client May Use a Variety of Methods to Understate