Question: Please help me to answer question 4 to 15. Thanks Define and explain kiting. Define and explain lapping Describe the difference between cycle testing and
Define and explain kiting. Define and explain lapping Describe the difference between cycle testing and substantive testing. Describe in outline form the process of auditing accounts receivable including the use of confirmations, the selection of receivables to confirm, the mailing process, matter of dealing with response discrepancies. What two alternative audit steps should be undertaken when receivable confirmations go responded to. In narrative form, describe the process of and the auditor's role in the observation of inventory. Define and describe the concept of price testing. Describe outline form the process of expenditure cycle testing, including which business forms you likely Describe in outline form the process of payroll expenditure cycle testing, including which business forms you would likely use. Describe in outline form the process of payroll cycle testing, including which business forms you would likely use. Describe the additional substantive payroll audit procedure that serves to validate the total payroll amount reflected in the trial balance/general ledger. Which forms does the auditor refer to. Describe the general practice use of accounts payable confirmations. Describe and define the concept of unrecorded liabilities. Explain which steps can be taken to expose its existence. Using Figure 17-6, page816 of the text, generally describe the audits steps that would be administered to all to the Asset Costs and all of the Accumulated Depreciation columns. Describe some steps to be undertaken in auditing investments, including the assets, their FMV, and any resultant income derived. List certain external third party sources you may look to assist in these audit procedures. List at least seven other general ledger accounts that having investments could cause to be affected
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