Match the test of controls described below to the appropriate assertion it is used to test: 1)

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

Question:

Match the test of controls described below to the appropriate assertion it is used to test:

1) Observe the endorsement of checks

2) Test a sample of sales invoices for the presence of authorized customer order and shipping document

3) Test a sample of cash receipts transactions for proper cash discounts

4) Review of cash receipts journal for unusual items

5) Recompute financial information on a sample of sales invoices

6) Compare the dates on the sales invoices with the dates of the relevant shipping documents

A. Authorization

B. Completeness

C. Accuracy

D. Occurrence

E. Classification

F. Cutoff

Related Book For answer-question

Auditing A Practical Approach

ISBN: 978-1742165943

1st Canadian Edition

Authors: Robyn Moroney

See More Books

Posted Date: Aug 26, 2020 02:17 AM

See More Questions

Debras mother promised to pay $25,000. toward Debras Spring 2023 college tuition if Debra promised to resume her college studies. Debra agreed, and accepted the money in advance, promising to...
The test of controls for purchases, cash disbursements, and accounts payable include the following audit procedures. Next to each of the procedures, indicate the related transaction assertion....
The test of controls for purchases, cash disbursements, and accounts payable include the following audit procedures. 1. Vouch a sample of receiving reports to related purchase orders. 2. Select a...
Gray Corporation began operations on January 1, 2017. The following information is available for Gray Corporation on December 31, 2017. Prepare an income statement, a retained earnings statement, and...
Here's a cell you'll really like: The cell solution was made by mixing 25.0 mL of 4.00 mM KCN 25.0 mL of 4.00 mM KCu(CN) 2 25.0 mL of 0.400 M acid, HA, with pK a = 9.50 25.0 mL of KOH solution The...
Blue Moon Water Supply Inc. bottles and distributes spring water. On July 17 of the current year, Blue Moon Water Supply reacquired 35,000 shares of its common stock at $60 per share. a. What is the...
Consider boiling of water under sea-level conditions in a copper vessel. Calculate and plot the heat flux vs. $\Delta T$ diagram for water at three different pressures. Show the temperature at the...
1. How does Bostrom explain the ideas of morphological freedom and reproductive freedom? How are they different? 2. How does Bostrom characterize the concerns of bioconservatives? 3. Explain why...
2) At the post office, Tiffany paid $11.04 for 24 stamps. At this rate, how much would it cost for Tiffany to buy 18 stamps? 3) At a factory, there are 40 new cars produced every 8 hours. How many...
How might you combine social entrepreneurship with traditional options for going global?
An oil well, offshore Lebanon, has an estimated reserve of 10 million barrels. An oil company has a three-year production sharing contract (PSC) to exploit the well before returning it to the...
To determine the kinetics (rates) of ozone depletion reactions, chemists perform controlled laboratory studies. In this simulated lab, we will interpret data obtained from such laboratory experiments...
How might actions/events in other countries outside the U.S. effect the aggregate supply or aggregate demand in the U.S.? Be sure to explain.
Keynesians believe that the tools (G, T and MS) should be used to try to help the economy. Should we? Why or why not?
Matt has worked as an electrician for 24 years with the same company and is about to retire. He has a final-earnings pension plan. His pension benefit will be 1% per year based on the average of his...
You are a co-op student at Modus Biosystems and have been asked to research whether there are ways to save money on their legal liability insurance. Modus currently pays $75,000 a year for a policy...
6. Two runners are running the curve for the 200 m. The runner in lane 8 has a velocity of 8 m/s. the radius of her curve is 45 meters. The runner in lane 1 has a radius of 36 meters. If the two...
A Bloomberg Businessweek subscriber study asked, In the past 12 months, when traveling for business, what type of airline ticket did you purchase most often? A second question asked if the type of...
Explain the differences between an audit of internal controls as required by section 404 of the U.S. Sarbanes-Oxley Act 2002 and the testing of internal controls for the purposes of expressing an...
Why would an auditor be interested in a client's control monitoring processes?
List three steps in the sales process. For each step selected, also identify a WCGW and an example control that should be incorporated in the step to mitigate that risk.
Show that for real numbers $\alpha, \beta$, and $\delta$ the matrices form a group under matrix multiplication. Show that the matrices $G$ with $\alpha=\beta=0$ form an invariant subgroup of...
Show that the quotient group of the 4-group $\mathrm{D}_{2}$ defined in Problem 2.9 is $\mathrm{C}_{2}$.
Prove that the angular momentum operator $L_{z}$ generates rotations around the $z$-axis.

Match the test of controls described below to the appropriate assertion it is used to test: 1)

Question:

Expert Answer:

1observe the endorsement of checks completeness 2test a sample of sales invoices for presence o... View the full answer

Auditing A Practical Approach

Students also viewed these accounting questions