Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. derek smith, cpa has gathered information during t

Derek Smith, CPA has gathered information during the audit of Green Acres. Based on the...

70.2K

Verified Solution

Question

Accounting

Derek Smith, CPA has gathered information during the audit of Green Acres. Based on the description below of what Derek uncovered, select the management assertion and account description that best matches the concern or situation identified Information: When reviewing the working capital of the company, Derek noticed an increase in the company's current ratio due to a significant decrease in the current liabilities. Current assets remained essentially unchanged from the prior year. What is Derek concerned about?

A.Valuation of the current liabilities

B.Completeness of the current liabilities

C.Accuracy of the current liabilities

D.Existence of the current liabilities

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

Why are the Latin American people still struggling with control of their everyday lives? How does...

Physics
1.2K views

Three identical resistors each of value 402 are connected first in star and then in...

Physics
1.2K views

In the given circuit AB is a uniform wire of 102 and length 1 m...

Basic Math
1.2K views

A football is kicked vertically upward from a height of 5 feet with an initial...

Calculus
1.2K views

If f x 2x 5x 8 find f 2 f 2 Simplify your answer

Calculus
1.2K views

A window is composed of a semicircle placed on top of a rectangle If you...

Accounting
1.2K views

zenith companys metchadise inventory account ag yesr end has a bakncr if 91829 ...

Accounting
1.2K views

Components of Ending Work-in-Process The Oxford Company uses a job order cost system and applies...

Accounting
1.2K views

The balance of an appropriated retained earnings account is reduced Multiple Choice when net...

Accounting
1.2K views

problem p3-7, cost accounting 17e

Accounting
1.2K views

DeLoach Company incorporated on January 1, 2023 and had the following four common stock transactions...

Finance
1.2K views

Since 1961, the US has maintained _____________ with Cuba. full diplomatic relations a trade...