Essay
You are part of the audit team that is auditing Hillsburg Hardware Co.and you have been assigned to the sales and collection business process.You are testing whether the cash received has been recorded in the cash receipts journal.(completeness objective /assertion).List two tests of controls and at least one test of transactions that you would do to satisfy yourself regarding the completeness assertion.
Correct Answer:
Verified
Control Tests: 1.Observe prelisting of c...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q34: The preparation of a sales invoice is
Q64: Tracing from source documents to the journal
Q66: An effective procedure to test for unbilled
Q68: The completeness transaction-related audit objective must be
Q72: Which of the following would least concern
Q73: In planning the audit, an auditor takes
Q76: Credit memos are normally issued to:<br>A)adjust the
Q83: Some companies have customers send payments directly
Q101: A document sent to each customer showing
Q111: Which one of the following statements is