Which of the following audit procedures is best for identifying unrecorded trade ac- counts payable?

The following questions concern accumulating evidence in the acquisition and payment cycle. Choose the best response.
a. In auditing accounts payable, an auditor’s procedures most likely will focus primarily
on management’s assertion of
(1) existence.
(2) realizable value.
(3) completeness.
(4) valuation and allocation.
b. Which of the following audit procedures is best for identifying unrecorded trade ac-
counts payable?
(1) Examining unusual relationships between monthly accounts payable balances
and recorded cash payments
(2) Reconciling vendors’ statements to the file of receiving reports to identify items
received just prior to the balance sheet date
(3) Reviewing cash disbursements recorded subsequent to the balance sheet date to
determine whether the related payables apply to the prior period
(4) Investigating payables recorded just prior to and just subsequent to the balance
sheet date to determine whether they are supported by receiving reports

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