C Inquire C STOT C Cutoff D Inventory warehousing cycle D Observation D AP D

C inquire c stot c cutoff d inventory warehousing

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C Inquire. C STOT. C Cutoff. D Inventory & warehousing cycle. D Observation. D AP. D Realizable value. E Capital acquisition cycle. E A.procedures. E TODB. E Existence. 45 Confirm a sample of notes payable balances, interest rates, and collateral with lenders. Cycle Evidence ST or TOC Test Objective A Sales & Collection cycle. A Documentation. A Test of control. A Risk assessment. A Posting & Summarizing. B Acquisition & Payment cycle. B Confirmation. B Substantive test. B TOC. B Occurrence. C Payroll & Personnel cycle. C Inquire. C STOT. C Accuracy D Inventory & warehousing cycle. D Observation. D AP. D Realizable value. E Capital acquisition cycle. E A.procedures. E TODB. E Existence. 46 Use audit software to foot the accounts receivable trial balance and compare the balance with the general ledger. Cycle Evidence ST or TOC Test Objective A Sales & Collection cycle. A Documentation. A Test of control. A Risk assessment. A Posting & Summarizing. B Acquisition & Payment cycle. B Confirmation. B Substantive test. B TOC. B Occurrence. C Payroll & Personnel cycle. C Inquire. C STOT. C Detail tie in. D Inventory & warehousing cycle. D Recalculation. D AP. D Realizable value. E Capital acquisition cycle. E A.procedures. E TODB. E Existence.
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( ) Mr.Ahmed Atef Khafaga The following internal controls for the acquisition and payment cycle: identify which objective? 47 At the end of each month, an accounting clerk accounts for all pre-numbered receiving reports (documents evidencing the receipt of goods) issued during the month, and traces each one to the related vendor’s invoice and acquisitions journal entry. The clerk’s tests do not include testing the quantity or description of the merchandise received. A Completeness. B Occurrence. C Accuracy. D Existence. 48 The cash disbursements clerk is prohibited from handling cash. The bank account is reconciled by another person even though the clerk has sufficient expertise and time to do it. A Completeness. B Occurrence. C Accuracy. D Existence. 49 Before a check is prepared to pay for acquisitions by the accounts payable department, the related purchase order and receiving report are attached to the vendor’s invoice being paid. A clerk compares the quantity on the invoice with the receiving report and purchase order, compares the price with the purchase order, re-computes the extensions, re-adds the total, and examines the account number indicated on the invoice to determine whether it is correctly classified. He indicates his performance of these procedures by initialing the invoice. A Completeness. B Occurrence. C Accuracy. D Classification. 50 Before a check is signed by the controller, she examines the supporting documentation accompanying the check. At that time, she initials each vendor’s invoice to indicate her approval. A Completeness.
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  • Fall '16
  • taher refaat
  • Accounting, Auditor's report, Atef Khafaga

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