Message_1503369177011.jpg - Photo Documner Maller Which of...

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Unformatted text preview: Photo, Documner Maller Which of the following audit pmcedures does NOT address existence/occurrence for accounts regelyahles and sales Answer X Examine the subsequent cash receipts from the customer after period Week: min b. Confirm balances of unpaid invrices with customers Kamine the bills of lading that are associated with the recorded sales d. going through the prenumbered bill of lading to examine whether any bills are missing Question 16 25 and at 2 points Reduction of the risk of understated costs of goods sold can be accomplished by focusing on which assertion" Answers a. Rights Completeness Existence. d. I'resentation and disclosure Question 17 2.5 out of 2.5 points Which of the following statement about inventory count is true? Answers: n Auditors may give the list of inventory that are to be sampled to client's warehouse staff to increase the efficiency of their inventory count b. Inventory count must be carried out at yearend For companies using periodic inventory system, results from inventory count determines Cous d Consignment goods must be physically examined by the anditors Question 18 2.3 out of 2.5 points The internal control that requires that "the value of trading securities should be determined using the ending price of the securities at the end a?the period, if such price is available" satisfies which assertion? Answers: (a.) Valuation...
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  • Fall '10
  • PHILLIPS
  • Exam 2, Supply chain management terms, Bill of lading, Commercial item transport and distribution

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