Question: While auditing a client's purchase transactions, an auditor selects a sample of vouchers and then compares the dates on the vouchers to the dates the

While auditing a client's purchase transactions, an auditor selects a sample of vouchers and then compares the dates on the vouchers to the dates the corresponding transactions were actually recorded in the client's purchase journal. The audit procedure is most likely designed to test the:

.

Existence and occurrence assertion.

.

Completeness assertion.

.

Valuation, allocation, and accuracy assertion.

.

Cut

-

off assertion.

While auditing a client's purchase transactions,

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Telephone calls for the YakLine, a discount long distance carrier, are routed through a variety of switching devices that interconnect various network hubs in different cities. The maximum number of...

The following questions concern internal controls and accumulating evidence in the acquisition and payment cycle. Choose the best answer. a. While auditing a clients purchase transactions, an auditor...

Need help with these multiple choice questions for internal audit final exam. Due in 2 hours. QUESTION 1 RsQ_004Without management direction and assumption of responsibility, it would be...

** Its a practice test that prof gave us for the preparation so its not homework or anything like that 1. Which of the following is a characteristic of monetary unit sampling (MUS)? A) MUS is a form...

I need to finish assignment Assignment 6 WPs 21-1, 21-2, 21-3, 21-5, 21-6, 21-17, 21-18, 21-19, 21-20, 21-21 Assignment 7 WPs 30-1, 30-2, 30-4, 30-5, 30-21, 30-22, 30-23, 30-24 Assignment 8 WPs 20-1,...

The following questions concern internal controls and accumulating evidence in the acquisition and payment cycle. Choose the best answer. 1) Which of the following tests would an auditor be least...

14.7 Oceanview Marine Company Nonstatistical Attributes Sampling Data Sheet: Acquisitions December 31, 2018 Define the objective: Evaluation of internal controls and the accounting system for...

The following questions concern internal controls and accumulating evidence in the acquisition and payment cycle. Choose best answer....

ACCT Auditing MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question (2 points each). (60 points) 1) Which of the following is not an area of the...

QUESTION 1 (20 MARKS) For each of the following statements identify the relevant assertion and classify it as transaction related or balance sheet related. NOTE: When answering this question, please...

Taking the values of atomic masses from the tables, calculate the kinetic energies of a positron and a neutrino emitted by C11 nucleus for the case when the daughter nucleus does not recoil.

Peter buys an item from Sue and signs a note to pay $475 in 10 months. Then, 1 month before the note comes due, Sue sells the note to a bank which discounts the note based on 12.5% simple interest....

The GASB published a white paper which identifies five environmental differences between governments and for - profit enterprises. Group startsTrue or False

Hugo decides to buy his Christmas gifts on Black Friday. To simplify his life, he is giving his 10 closest friends scarves for Christmas and everyone else Christmas cards. Hugo is willing to pay up...