Question: Chapter 7 - Audit Evidence Chapter 9 - Assessing the Risk of Material Misstatements Chapters Questions and Problems Complete the table with assertion, and recommended

Chapter 7 - Audit Evidence

Chapter 9 - Assessing the Risk of Material Misstatements

Chapters Questions and Problems

Complete the table with assertion, and recommended audit procedure that apply:

Possible Misstatement

Assertion

Audit Procedures

Cash is understated because not all cash receipts are recorded or disbursement were not recorded.

Cash is overstated because the entity does not have legal title or similar right of ownership to amounts reflected in the accounts. Restrictions on the availability of funds are not properly disclosed.

Provide reference and info to support your answer

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