Multiple Choice
The auditor of the revenue cycle of ABC Company computes an estimate of ABC's allowance for doubtful accounts and compares it to the estimate provided by ABC's management.The purpose for this procedure is to substantiate which of the following assertions?
A) existence of receivables
B) completeness of receivables
C) valuation of receivables
D) rights to receivables
Correct Answer:
Verified
Correct Answer:
Verified
Q57: Completeness of revenues may be tested by
Q58: Substantive procedures for sales and receivables assertions
Q58: An auditor's examination of the sales account
Q59: The auditor traces recorded sales to invoices,sales
Q61: The aged accounts receivable report is utilized
Q63: Sources of information used for determining substantive
Q66: The revenue cycle considered by auditors includes
Q66: Negative confirmations are considered to be more
Q75: When the client has a large number
Q102: A review of the terms of client