Multiple Choice
An audit basically consists of having the auditor form an opinion regarding management's financial statement assertions.The auditor therefore develops general and specific procedures to apply to the accounts and transactions.In a particular case,s/he might do this by:
A) Tracing sales invoices to shipping documents to tests the completeness of reported sales.
B) Tracing shipping documents to sales invoices to test the occurrence of reported sales.
C) Tracing sales invoices to shipping documents to test the occurrence of reported sales.
D) Tracing sales invoices to shipping documents to test the completeness of recorded accounts receivable.
Correct Answer:
Verified
Correct Answer:
Verified
Q62: Confirmation requests should contain a "business reply"
Q63: For effective internal control,the billing function should
Q64: Which of the following generally provides the
Q65: Which of the following is the best
Q66: Internal control over sales transactions is very
Q68: 1-3.The auditor determines that both of
Q69: A computer software firm allows its sales
Q70: When there are a large number of
Q71: As part of the fieldwork of
Q72: The department approving a sales transaction should