1 What are the four accounts that are typically affected by cash transactions. Please use the following...
Question:
1
What are the four accounts that are typically affected by cash transactions. Please use the following illustration to help you answer this question.
2
What controls can be used:
a) to make sure cash accounts are accurate
b) to make sure cash receipts are appropriately recorded
c) to limit access for individuals who can initiate electronic transfers of cash
Please use the illustration below to help you answer this question. Hint: Look at 'Examples of Controls' column for the answers.
Question 3
What substantive tests of details can be used for the existence/occurrence assertion related to cash? Please use the illustration below to help you answer this question.
Question 4
What substantive test of detail can be used for the completeness assertion related to cash? Please use the illustration below to help you answer this question.
Question 5
What substantive test of detail can be used for the rights assertion related to cash? Please use the illustration below to help you answer this question.
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher