An effective way to identify liabilities that were unrecorded at year-end is
A)reviewing liabilities recorded after year-end
B)reviewing journal entries after year-end
C)reviewing account closings after year-end
D)reviewing the bills paid after year-end

Question

Quizplus · Accepted Answer

Reviewing the bills paid after year-end can reveal liabilities that existed at year-end but were not recorded, as these payments may relate to obligations incurred before the year-end date.

An Effective Way to Identify Liabilities That Were Unrecorded at Year-End