Cutoff Existence Occurrence Valuation8. Which audit assertion is met when testing for unrecorded accounts payable? (Points : 1) Solution Audit assertion met when testing for unrecorded accounts payable is existence . In this assertion we test the validity of the existence of assets and liabilities in the balance sheet on balance sheet date ..

1. Cutoff
Existence
Occurrence
Valuation8. Which audit assertion is met when testing for unrecorded accounts payable?
(Points : 1)
Solution
Audit assertion met when testing for unrecorded accounts payable is existence . In this assertion
we test the validity of the existence of assets and liabilities in the balance sheet on balance sheet
date .