Problem 1. Expenses are normally accrued at the end of the accounting period by a small business that follows the cash method of accounting. (True/False)
Problem 2. List two expense accounts that are usually accrued at the end of an accounting period.
Problem 3. Name the document that is usually completed before a purchase order is executed.
Problem 4. Which assertion is of primary importance to the auditor in auditing accounts payable? Why?