Matching
Indicate the assertion that is supported by each of the tests of controls for sales and receivables,
Premises:
Scan sales invoices for missing numbers in sequence.
Perform arithmetic recalculation of a sample of recorded sales invoices.
For a sample of recorded sales, determine whether credit was approved.
Trace a sample of credit memos to postings in customers' accounts.
Select a sample of customer accounts and vouch debits to sales invoices.
Responses:
Accuracy
Completeness
Occurrence
Correct Answer:
Premises:
Responses:
Scan sales invoices for missing numbers in sequence.
Perform arithmetic recalculation of a sample of recorded sales invoices.
For a sample of recorded sales, determine whether credit was approved.
Trace a sample of credit memos to postings in customers' accounts.
Select a sample of customer accounts and vouch debits to sales invoices.
Premises:
Scan sales invoices for missing numbers in sequence.
Perform arithmetic recalculation of a sample of recorded sales invoices.
For a sample of recorded sales, determine whether credit was approved.
Trace a sample of credit memos to postings in customers' accounts.
Select a sample of customer accounts and vouch debits to sales invoices.
Responses:
Related Questions
Q85: An auditor should normally perform alternative procedures
Q86: The most effective audit procedure for determining
Q87: Which of the following responses to an
Q88: Which of the following controls is designed
Q89: Confirmations of accounts receivable provide the most
Q90: Which of the following internal control activities
Q91: An audit team is auditing sales transactions.
Q92: Confirmations provide evidence of _ and, to
Q93: Confirmation of individual accounts receivable balances directly
Q94: Which of the following procedures would an