Which of the following relatively small misstatements most, Ask an Expert

Accounting

Which of the following relatively small misstatements most likely could have a material effect on an entity's financial statements?

a. An illegal payment to a foreign official that was not recorded

b. A piece of obsolete office equipment that was not retired

c. A petty cash fund disbursement that was not properly authorized

d. An uncollectible account receivable that was not written off

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M944377

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