Multiple Choice
Sales revenue is typically significant due to:
A) the overall inherent risk associated with revenue.
B) the volume of transactions that flow through the account.
C) its size.
D) all of the above.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q2: What are the three audit assertions that
Q15: Explain the various components of risk in
Q16: Sales revenue is typically not significant due
Q19: The audit objective that costs and expenses
Q20: The classification assertion relates to ensuring that
Q22: Testing the postings of the sales ledger
Q23: Comparing supplier/creditor invoices to the initial record
Q25: Which of the following substantive tests of
Q27: Substantive procedures are also known as:<br>A) tests
Q43: Occurrence is not typically a significant assertion