Tests of details of transactions for payables balances include:
A) vouching recorded payables to supporting documentation.
B) confirming payables with major suppliers by reviewing the accounts payable ledger or accounts payable master file.
C) comparing financial statement presentation with applicable regulations and accounting standards.
D) verifying directors' and executive officers' remuneration.

Question

Quizplus · Accepted Answer

Vouching recorded payables to supporting documentation is a test of details of transactions, as it involves verifying the existence and accuracy of recorded transactions by examining supporting documents.

Tests of Details of Transactions for Payables Balances Include