Answered: which of the following transactions…

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter10: Auditing Cash, Marketable Securities, And Complex Financial Instruments

Section: Chapter Questions

Problem 3RQSC: Match the following assertions with their associated description: (a) existence/occurrence, (b)...

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1. which of the following transactions will result in the increase and decrease in liability?

a. payment of loan by installment
b. borrowed money from the bank
c. issued a promissory note in payment of a liability
d. request for an extension of the date of payment

2. a statement which shows where the money of the business is obtained and used?

a. statement of financial position
b. statement of cash flows
c. cash budget
d. statement of revenues and expenses

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