74.In the audit of accounts receivable, the most important emphasis should be on the A. Completeness assertion.B. Existence assertion.C. Rights and obligations assertion.D. Presentation and disclosure assertion. 75.When accounts receivable are confirmed at an interim date, auditors need not be concerned with 76.The negative request form of accounts receivable confirmation is useful particularly when the
77.When an audit team traces a sample of shipping documents to the related sales invoice copies, they are trying to find relevant evidence that 78.Write-offs of doubtful accounts should be approved by A. The salesperson.B. The credit manager.C. The treasurer.D. The cashier. 79.When an audit team does not receive a response on a positive accounts receivable confirmation, auditors should do all of the following except 80.Cash receipts from sales on account have been misappropriated. Which of the following acts would conceal this defalcation and be least likelyto be detected by an auditor? 81.Which of the following internal control activities most likely would deter lapping of collections from customers?
- Spring '12
- Sales, Financial audit, invoice