1) If there is a completeness problem with cash receipts, are accounts receivable overstated or understated? Explain

2) How might the risk of material misstatement in the revenue process differ for a manufacturer of oil and gas field machinery equipment and a retail grocer?

3) Identify one or two financial ratios that you believe would be useful in identifying revenue recognition problems. Explain your reasoning.

4)Explain a sound control over revenue recognition in the process of making credit sales for a manufacturing company.

5) Identify a risk of fraudulent financial reporting in the revenue process. Describe a sound internal control that would detect and correct the misstatement on a timely basis.

6) Explain an effective substantive test related to the cutoff of sales at year-end.