2. Select a sample of entries in the acquisitions journal and trace each one to a related vendor’ s invoice to determine whether one exists.
3. Examine documentation for acquisition transactions before and after the balance sheet date to determine whether they are recorded in the proper period
ACCT 444 Week 5 Quiz
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1.( TCO 6) For efficiency, tests of controls are frequently done at the same time as 2.( TCO 6) Which of the following is not a direct result of performing analytical procedures? 3.( TCO 6) Which of the following audit tests is usually the most costly to perform?
4.( TCO 6) Which of the following represents an incorrect pairing of a type of audit test and evidence?
5.( TCO 6) The sequence of steps in gathering evidence as the basis of the auditor ' s opinion are
6.( TCO 9) It is important that sales be billed and recorded in the journal as soon as possible after
7.( TCO 9) At which point in an ordinary sales transaction would a lack of specific authorization be of least concern to the auditor?
8.( TCO 9) Proper separation of duties is useful to prevent various types of misstatements. Which of the following is not an essential separation of duties?
9.( TCO 9) Which one of the following would the auditor be concerned with when examining the client ' s billing function