Multiple Choice
The most important aspect of evaluating the client's method of obtaining a reliable cutoff is to
A) perform extensive detailed testing of cutoff.
B) evaluate the client's control procedures around cutoff.
C) confirm a sample of transactions near period end with customers.
D) confirm transaction with customers.
Correct Answer:
Verified
Correct Answer:
Verified
Q108: A positive confirmation is more reliable evidence
Q109: The positive (as opposed to the negative)
Q110: A type of positive confirmation in which
Q111: Tests of detail tie-in are normally conducted
Q112: If sales returns and allowances and write-off
Q114: List three of the major factors affecting
Q115: Most tests of accounts receivable are based
Q116: It is common for clients to unintentionally
Q117: For most audits, a proper cash receipts
Q118: When should auditors not perform alternative procedures