More Info 1.Contains information that enables the auditor to evaluate whether a

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More Info 1.Contains information that enables the auditor to evaluate whether a certain account balance appears to be misstated. 2. Includes the detailed make-up of an ending balance. 3. Schedule designed to document the tests performed and the results found. 4. Shows the activity in a general ledger account during the entire period under audit, tying together the beginning and ending balances. 5. Summarizes the results of a specific audit procedure. 6. Supports a specific amount and is normally expected to tie the amount recorded in the client's records to another source of information. PrintDone ck Answer

Explanation / Answer

1. Analysis – The answer is “4” – shows the activity in a general ledger account during the entire period under the audit, tying together the beginning and ending balances.

This pertains to audit documentation and its supporting schedules and analysis schedule is used for accounts like long term debt, notes receivable and allowance for doubtful debts.

2. Trial balance – The answer is “2” – includes the detailed make up of an ending balance.

Trial balance schedule includes only those items that make up end of the period balance.

3. Tests of reasonableness – The answer is “1” – contains information that enables the auditor to evaluate whether a certain account balance appears to be misstated.

This supporting schedule takes into consideration the circumstances in the engagement.

Current period supporting schedule Definition Analysis 4 Trial Balance 2 Tests of reasonableness 1

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