Question5 question

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Question 5.Question :(TCO 6) The sequence of steps in gathering evidence as the basis of the auditor's opinion areStudent Answer:substantive tests, initial assessment of control risk, and tests of controls.initial assessment of control risk, substantive tests, and tests of controls.initial assessment of control risk, tests of controls, and substantive tests.tests of controls, initial assessment of control risk, and substantive tests.
Instructor Explanation:Page 415Points Received:3 of 3Comments:Question 6.Question :(TCO 9) It is important that sales be billed and recorded in the journal assoon as possible after
Instructor Explanation:Page 444Points Received:3 of 3
Comments:Question 7.Question :(TCO 9) At which point in an ordinary sales transaction would a lack of specific authorization be of least concern to the auditor?
Instructor Explanation:Page 450Points Received:3 of 3Comments:Question 8.Question :(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?

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