In terms of licensing, which of the following is an intangible property?

The auditor is performing substantive tests of balances for accounts payable. What documentation would provide the best evidence for the ending balance?

A) vendors' invoices B) vendors' statements C) receiving reports D) purchase orders

A deed in which the seller or grantor warrants that the property is free of any liens or encumbrances unless they are revealed in the title is a(n):

a. warranty deed b. special warranty deed c. surface deed d. assurance deed e. quitclaim deed