Which of the following might be detected by auditors cutoff review and examination of sales journal entries for several days prior to the balance sheet date a Lapping year end accounts receivable b Inflating sales for the year c Kiting bank balances d Misappropriating merchandise ...

a Incorrect Lapping pertains to cash receipts not sales b Correct ...

Which of the following might be detected by auditors cutoff review and examination of sales journal entries

Question:

Which of the following might be detected by auditors’ cutoff review and examination of sales journal entries for several days prior to the date?
a. Lapping year- end accounts receivable.
b. Inflating sales for the year.
c. Kiting bank balances.
d. Misappropriating merchandise.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...