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True False

16. Auditors will perform an analysis of leases using SFAS 13 criteria and other EITF statements to substantiate the accounting treatment. (Points: 4) True False

17. Contingencies are considered by the auditor in relation to the SFAS No. 5 criteria to determine whether material contingencies exist with the client and, if so, that they are properly accrued or disclosed. (Points: 4) True False

18. An example of a Type II Subsequent Event includes the settlement two months after year-end of a liability for an amount well in excess of the amount that was accrued at year-end. (Points: 4) True False

ACC 562 EDU Successful Learning / acc562edu.com  

FOR MORE CLASSES VISIT www.acc562edu.com 1.Developing an understanding of the client's business and industry is essential to proficiency a...

ACC 562 EDU Successful Learning / acc562edu.com  

FOR MORE CLASSES VISIT www.acc562edu.com 1.Developing an understanding of the client's business and industry is essential to proficiency a...

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