Which of the following could test the assertion of cutoff for payroll-related liabilities?
A. Compare items in accrued payroll taxes to the supporting payroll tax return.
B. Search for unrecorded liabilities.
C. Review payroll liabilities for proper classification as short- or long-term.
D. Examine payroll tax returns to determine that the expense was recorded in the proper period.
Answer: D
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Under the World Trade Organization, the most recent round of multilateral trade negotiations was the
a. Uruguay Round. b. Doha Round. c. Nixon Round. d. Kennedy Round.
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What will be an ideal response?
Using a perpetual inventory system, the entry to record the return of merchandise purchased on account includes a
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A) vertical analysis. B) horizontal analysis. C) liquidity analysis. D) common-size analysis.