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The audit objective that requires that existing notes payable be included in the notes payable ...

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The audit objective that requires that existing notes payable be included in the notes payable ...

The audit objective that requires that existing notes payable be included in the notes payable schedule is satisfied by performing which of the following audit procedures?

▸ Confirm notes payable.

▸ Trace the total of the notes payable schedule to the general ledger.

▸ Review the notes payable schedule to determine whether any are related parties.

▸ Review the bank reconciliation for new notes credited directly to the bank account by the bank.

Textbook

Auditing and Assurance Services

Edition: 17^th

Authors: Arens, Elder, Beasley, Hogan

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justxdrive Author

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Smart ... Thanks!

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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Just got PERFECT on my quiz

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