Question: For each of the following procedures decide for which assertion the test provides the best evidence. 1. Recompute financial information on a sample of vendor

For each of the following procedures decide for which assertion the test provides the best evidence. 1. Recompute financial information on a sample of vendor invoices 2. Observe

1. Recompute financial information on a sample of vendor invoices 2. Observe and evaluate proper segregation of duties on a purchasing transaction 3. Trace a sample of vouchers to the purchasing journal 4. Review the firm's dollar limit thresholds for acquisitions 5. Test a sample of vouchers for proper purchasing categories (e.g. expense vs. capital)

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1 Trace large cash receipts and payments to the source documents and the general ledger answer Test of details of transaction reason because tracing c... View full answer

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