Tag Archives | Verification of Assets and Liabilities

Verification of Assets and Liabilities of a Company | Auditing

In this article we will discuss about the checklist for the verification of assets and liabilities of a company:- 1. Copyright 2. Royalty 3. Travelling Expenses 4. Loans on Mortgage 5. Bank Overdraft 6. Loan to a Director 7. Investment in Shares 8. Plant and Machinery 9. Secured Loans 10. Preliminary Expenses 11. Leasehold Mining Rights 12. Railway Siding 13. [...]

By Ankur G|2017-06-20T20:12:54+00:00June 20, 2017|Verification|Comments Off

Verification of Assets and Liabilities | Company | Auditing

Some of the most frequently asked exam questions on verification and valuation of assets and liabilities are as follows: Q.1. What is meant by verification of assets and liabilities? State the object of such verification. Ans. The verification of assets and liabilities involves the consideration of the following points: 1. That each asset/liability is correctly stated in the balance sheet. [...]

By Ankur G|2017-06-20T20:12:54+00:00June 20, 2017|Verification|Comments Off

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