TRUE/FALSE. Write "T if the statement is true and 'F' if the statement is 13) The accounts payable department reconciles the vendor invoice., purchase order, and 13) receiving report prior to approving the payment to the vendor MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 14) The assertion that auditors will probably emphasize in the revenue and collection cycle 14) is: A) completeness. C) classification. B) occurrence D) accuracy 15) To be recognized, revenues must also be realized or realizable and: B) carned. 15) A) foresceable. C) collected. D) shipped. TRUE/FALSE. Write T' if the statement is true and 'F if the statement is false. 16) The emphasis is on the completeness assertion because financial statement users tend to 16) be more concerned about understated expenses and liabilities than overstated. MULTIPLE CHOICE. question. Choose the one alternative that best completes the statement or answers the 17) From the auditors' point of view, inventory counts are more acceptable prior to the year 17) - end when A) inventory is slow moving. B) internal control is weak. C) accurate perpetual inventory records are maintained. D) significant amounts of inventory are held on a consignment basis. 18) Which of the following situations indicates a potential material weakness in internal18) control over acquisition and expenditure? A) Purchase orders are not prepared for services acquired directly under authorization of department heads B) The same person signs checks and stamps vouchers PAID. C) Unacceptable goods are not scheduled on receiving reports. D) The same person authorizes voucher packages and signs checks. TRUE/FALSE. Write 'T if the statement is true and 'F if the statement is false. 19) 19) The payroll department approves payroll hours prior to processing the payroll