Review the list of controls that could be present in the revenue process and determine the audit

Question:

Review the list of controls that could be present in the revenue process and determine the audit procedures that could be performed to test the control. For each procedure, indicate the management assertion that the auditor gathers evidence to evaluate while performing the test.

a. Prenumbered shipping documents are completed in the shipping department.

b. Sales invoices are prenumbered.

c. Customer credit is approved before orders are shipped.

d. Credit memos are prenumbered and the sequence is checked for missing documents.

e. Customer statements are mailed monthly by the accounts receivable department.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...