Multiple Choice
An internal control dictates that prices on sales invoices are verified with a standard price list by client personnel.Which of the following procedures provides the greatest assurance that this control is operating effectively?
A) reperformance
B) inquiry
C) examining the invoices for signatures
D) observation
Correct Answer:
Verified
Correct Answer:
Verified
Q84: The primary emphasis of auditors is on
Q85: Describe the three key concepts (assumptions)in the
Q86: An important part of effectiveness and efficiency
Q87: Often, for efficiency, the auditor will ignore
Q88: An effective accounting information and communication system
Q90: Which one of the following activities would
Q91: If, when obtaining an understanding of control
Q92: ASA 315 states that the auditor shall
Q93: When the auditor's assessment of control risk
Q94: Discuss the objectives of internal control with