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npeelman npeelman
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6 years ago
Control risk for notes payable is usually assessed as low. This occurs because internal controls are normally good for notes payable and
A) creditors would complain if the notes are not paid.
B) interest expense can easily be distinguished from bank service charges.
C) there are a small number of large transactions or this type of transaction.
D) inclusion in the accounts payable listing helps track the notes.
Textbook 
Auditing: The Art and Science of Assurance Engagements, Canadian Edition

Auditing: The Art and Science of Assurance Engagements, Canadian Edition


Edition: 12th
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inthe80sinthe80s
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npeelman Author
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5 years ago
Badd ass Thanks
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