An Auditor Most Likely Would Limit Substantive Tests of Sales

Multiple Choice

An auditor most likely would limit substantive tests of sales transactions when control risk is assessed as low for the existence or occurrence assertions concerning sales transactions and the auditor has already gathered evidence supporting

A) Opening and closing inventory balances.
B) Cash receipts and accounts receivable.
C) Shipping and receiving activities.
D) Cutoffs of sales and purchases.