Which of the following audit tests would most likely be used to test the occurrence assertion for

Question:

Which of the following audit tests would most likely be used to test the occurrence assertion for payroll transactions?

a. Trace a sample of time sheets to the payroll register.

b. Recompute the mathematical accuracy of a sample of payroll checks.

c. Trace a sample of payroll checks to the approved time sheet summary and the master employee list to verify validity.

d. Test a sample of time sheets for the presence of authorization.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Auditing And Assurance Services

ISBN: 9780073527086

7th Edition

Authors: William MessierSteven Glover

See More Books

Question Posted: May 07, 2024 07:00 AM

See More Questions

Multiple Choice 1. During the year being audited, the Matthews Corporation changed from a system of recording time worked on clock cards to an IT payroll system in which employees record time in and...
The following questions deal with internal control and audit evidence in the sales and collection cycle. Choose the best response. a. Tracing shipping documents to sales invoices provides evidence...
A small consulting company wants to make the switch to QuickBooks Online. All of their expenses are paid at the time they are incurred, so there is no need to track bills in the system. There is only...
Suppose that there is parity between the Australian dollar and the United States dollar. Let x be a positive number and assume that the United States dollar increases by 100x % in Australian dollars....
Use the properties of Section 3.2 to prove that laa
Maxwell Inc. uses the periodic inventory system. During its first year of operations, Maxwell made the following purchases, listed in chronological order of acquisition: 40 units at $100 per unit 70...
Engine oil at $40^{\circ} \mathrm{C}\left(ho=876 \mathrm{~kg} / \mathrm{m}^{3}, \mu=0.2177 \mathrm{~kg} / \mathrm{m} \cdot \mathrm{s} ight)$ flows in a $20-\mathrm{cm}$-diameter pipe at a...
1. Provide a detailed discussion of the intentional and unintentional rating distortion factors that may come into play in this situation. 2. Evaluate the kinds of training programs that could...
Last year, Wildhorse sold 40,000 ankle supports. The company's marketing manager is convinced that a 10% reduction in the sales price, combined with a $50,000 increase in advertising, will result in...
An auditor is most likely to perform substantive tests of details on payroll transactions and balances when a. Cutoff tests indicate a substantial amount of accrued payroll expense. b. The level of...
It would be appropriate for the payroll department to be responsible for which of the following functions? a. Approval of employee time records. b. Preparation of periodic governmental reports as to...
Franklin Industries CEO was talking with the CFO about the appropriate standard cost to use for the new product being launched in the coming year. The CEO argued that standard cost based on ideal...
MATLAB contains functions to calculate the natural logarithm (log), the logarithm to the base 10 (log10), and the logarithm to the base 2 (log2). However, if you want to find a logarithm to another...
The Exchange Rate between the US and the UK is $1.5 to 1 Pound. English Biscuits in the US sell for $5 a box. If the exchange rate goes to $1.4 to 1 Pound, and the costs in England do not change -...
The chief executive of a mid-sized manufacturing company has hired you to design the work site and any other conditions necessary for employees to feel more empowered. Describe three important...
Identify and discuss costs associated with developing and launching the new products and/or services. Provide dollar figure examples/estimates of each of the costs you discuss. We do not expect them...
Explain the payback period statistic. What is the acceptance benchmark when using the payback period statistic
What is the purpose of the command interpreter? Why is it usually separate from the kernel?
Given the table below, about how much force does the rocket engine exert on the 4.0 kg payload? Distance traveled with rocket engine firing (m) Payload final velocity (m/s) 500 320 490 310 1020 450...
Let M = [6 -5 56 2 -6 Find 3M - N. and N = T-6 41 -5 4
Subtract. 4 5 8.x 3 3-8x
Given that f(x) = x + 5x and g(x) = x + 2, calculate (a) fog(x)= (b) go f(x)= (c) fof(x)= (d) go g(x)=

Which of the following audit tests would most likely be used to test the occurrence assertion for

Question:

Step by Step Answer:

Auditing And Assurance Services

Students also viewed these Business questions