30. While auditing the Accounts Payable records, the auditor discovers an entry for Coffee Emporium with...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
30. While auditing the Accounts Payable records, the auditor discovers an entry for Coffee Emporium with an address of 809 Main St., St. Louis MO and another entry for Coffee Emporium with an address of 809 Main Street, St. Louis MO. Each entry has a different vendor number. Which of the following statements is false? * (1 Point) Data was entered into the database incorrectly. The onscreen form for entering vendor O information correctly performed data validation. The database views these as two separate accounts. 30. While auditing the Accounts Payable records, the auditor discovers an entry for Coffee Emporium with an address of 809 Main St., St. Louis MO and another entry for Coffee Emporium with an address of 809 Main Street, St. Louis MO. Each entry has a different vendor number. Which of the following statements is false? * (1 Point) Data was entered into the database incorrectly. The onscreen form for entering vendor O information correctly performed data validation. The database views these as two separate accounts.
Expert Answer:
Answer rating: 100% (QA)
The statement that is false is b The onscreen form for entering vendor information c... View the full answer
Related Book For
Principles of Auditing and Other Assurance Services
ISBN: 978-0078025617
19th edition
Authors: Ray Whittington, Kurt Pany
Posted Date:
Students also viewed these accounting questions
-
Which of the following statements is false in regard to the U.S. income tax treaty program? a. There are about 70 bilateral income tax treaties between the U.S. and other countries. b. Tax treaties...
-
Which one of the following statements is false with respect to a traditional overhead allocation system? a. A traditional overhead allocation system is a good method of cost allocation in the right...
-
Which of the following statements is an organizational objective (as opposed to an organizational goal)? To increase in patient volume by 3 percent per year To increase market share To provide high...
-
Question 1 As at 31 December x5 the statement of financial position of Span and Cat was as follows: Ordinary shares of RM10 each Ordinary shares of RM1 each 7% preference shares of RM1 each 5.6%...
-
Part 1 Goering, Zarcus, and Schmit are partners and share income and loss in a 3:2:5 ratio. The partnerships capital balances are as follows: Goering, $84,000; Zarcus, $69,000; and Schmit, $147,000....
-
A company that produces and markets video game systems wishes to assess its customers level of satisfaction with a relatively new model, the XYZ Box. In the six months since the introduction of the...
-
The entry to record the payment of $1,200 rent expense would be which of the following? DATE ACCOUNTS POST REF. DR. CR. a. Rent Expense 1,200 Accounts Payable 1,200 b. Cash 1,200 Rent Expense 1,200...
-
Aberdeen Computer Corp. (ACC) is located in Aberdeen, Washington. The company has developed the Web-Surfer, a low-cost e-mail and Web-surfing appliance. This product is manufactured at four plants,...
-
A non-investment grade company wants to borrow money. It is considering two options: (i) issuing a 144a high-yield bond, or (ii) issuing a leveraged loan. The company is certain that interest rates...
-
You are reviewing audit work papers containing a narrative description of the Tenney Corporations factory payroll sys-tem. A portion of the narrative is as follows: Factory employees punch time clock...
-
Calculate gross profit for Jonas Co. based on the data given below: Sales$764,000 Selling Expenses52,500 Cost of Merchandise Sold...538,000 Sales Discounts7,100 Sales Returns and Allowances.3,650 A....
-
Star Health, Inc. is a fitness center in Oklahoma City. In October, the company earned $554,000 in revenues and incurred the following operating costs from 400 customers: Manager's Salary $5,500 Gym...
-
In the context of Pierre Bourdieu's theory of habitus, how do internalized social structures and cultural capital shape an individual's ability to navigate and succeed within institutional settings,...
-
Factoring toring By Grouping 2 8r 3 - 64 r + 8
-
Suppose Russia's inflation rate is 40% over one year but the inflation rate in Japan is only 2%. According to relative PPP, what should happen over the year to the Japanese yen's exchange rate...
-
Calculate the donation credit based on the below information? John has taxable income of $150,000 John donates $22,000 for the year 22) late the amount of CCA you can deduct each year for 2020,2021...
-
Use the Java hierarchy you posted in my code below and add a user-defined exception that can be thrown by one of the methods as part of the validation or error checking. The main method should then...
-
Listed below are several terms and phrases associated with basic assumptions, broad accounting principles, and constraints. Pair each item from List A (by letter) with the item from List B that is...
-
How was the Continental Vending case unusual with respect to penalties levied against auditors?
-
The international CPA firm of Arthur Andersen faced significant liability in conjunction with its audits of Enron Corporation. Required a. From a legal liability perspective, describe the unique...
-
Suggest some factors that might cause an audit engagement to exceed the original time estimate. Would the extra time be charged to the client?
-
Why are auditors concerned with related parties during the planning process?
-
The auditor will not ordinarily initiate discussion with the audit committee concerning the a. Extent to which the work of internal auditors will influence the scope of the audit. b. Extent to which...
-
Which of the following should an auditor obtain from the predecessor auditor prior to accepting an audit engagement? a. Analysis of balance sheet accounts. b. Analysis of income statement accounts....
Study smarter with the SolutionInn App