QuestionQuestion 13 / 3 pts(TCO 6) The auditor looks for an indication on duplicate sales invoices to see whether the invoices have been verified. This is an example ofa test of details of balances.a test of control.a substantive test of transactions.both a test of control and a substantive test of transactions.Question 23 / 3 pts(TCO 6) Analytical procedures are defined in the auditing standards ascompliance tests.substantive tests.tests of controls.helpful procedures not possessing the validity of other tests available to the auditor.Question 33 / 3 pts(TCO 6) Which of the following audit tests is usually the most costly to perform?Analytical proceduresTests of controlsTests of balancesSubstantive tests of transactionsQuestion 43 / 3 pts(TCO 6) Which of the following represents an incorrect pairing of a type of audit test and evidence?Procedures to obtain an understanding of internal controls—documentationAnalytical procedures—ratio analysisSubstantive tests of transactions—confirmationTests of details of balances—physical examinationQuestion 53 / 3 pts(TCO 6) The purpose of tests of controls is to provide reasonable assurance that theaccounting treatment of transactions and balances is valid and proper.internal control procedures are functioning as intended.entity has complied with GAAP disclosure requirements.entity has complied with requirements of quality control.Question 63 / 3 pts(TCO 9) It is important that sales be billed and recorded in the journal as soon as possible afterthe order is received.the order is received and credit is approved.credit is approved and it is verified that there is enough inventory to fill the order.the shipment takes place.Question 73 / 3 pts(TCO 9) Which one of the following is not an auditor’s concern about a key authorization point in the sales or collection cycle?The receiving room must have authorization before releasing items to inventory control.Credit must be authorized before the sale.Goods must be shipped after the authorization.Prices must be authorized.Question 83 / 3 pts(TCO 9) To achieve good internal control, which department should perform the activities of matching shipping documents with sales orders and preparing daily sales summaries?BillingShippingCreditPayablesQuestion 93 / 3 pts(TCO 9) When designing substantive tests of transactions for sales, the auditor is concerned with the possibility of several types of misstatements. Which of the following is not one of the types of these misstatements?Sales being included in the journal for which no shipment was madeSales to related parties, such as officers and subsidiariesSales recorded more than onceShipments being made to nonexistent customers and recorded as salesQuestion 103 / 3 pts(TCO 9) A key internal control in the sales and collection cycle is the separation of duties between cash handling and record keeping. The objective most directly associated with this control is to verify thatcash receipts recorded in the cash receipts journal are reasonable.cash receipts are properly classified.recorded cash receipts result from legitimate transactions.existing cash receipts are recorded.
Our Service Charter
-
Excellent Quality / 100% Plagiarism-Free
We employ a number of measures to ensure top quality essays. The papers go through a system of quality control prior to delivery. We run plagiarism checks on each paper to ensure that they will be 100% plagiarism-free. So, only clean copies hit customers’ emails. We also never resell the papers completed by our writers. So, once it is checked using a plagiarism checker, the paper will be unique. Speaking of the academic writing standards, we will stick to the assignment brief given by the customer and assign the perfect writer. By saying “the perfect writer” we mean the one having an academic degree in the customer’s study field and positive feedback from other customers. -
Free Revisions
We keep the quality bar of all papers high. But in case you need some extra brilliance to the paper, here’s what to do. First of all, you can choose a top writer. It means that we will assign an expert with a degree in your subject. And secondly, you can rely on our editing services. Our editors will revise your papers, checking whether or not they comply with high standards of academic writing. In addition, editing entails adjusting content if it’s off the topic, adding more sources, refining the language style, and making sure the referencing style is followed. -
Confidentiality / 100% No Disclosure
We make sure that clients’ personal data remains confidential and is not exploited for any purposes beyond those related to our services. We only ask you to provide us with the information that is required to produce the paper according to your writing needs. Please note that the payment info is protected as well. Feel free to refer to the support team for more information about our payment methods. The fact that you used our service is kept secret due to the advanced security standards. So, you can be sure that no one will find out that you got a paper from our writing service. -
Money Back Guarantee
If the writer doesn’t address all the questions on your assignment brief or the delivered paper appears to be off the topic, you can ask for a refund. Or, if it is applicable, you can opt in for free revision within 14-30 days, depending on your paper’s length. The revision or refund request should be sent within 14 days after delivery. The customer gets 100% money-back in case they haven't downloaded the paper. All approved refunds will be returned to the customer’s credit card or Bonus Balance in a form of store credit. Take a note that we will send an extra compensation if the customers goes with a store credit. -
24/7 Customer Support
We have a support team working 24/7 ready to give your issue concerning the order their immediate attention. If you have any questions about the ordering process, communication with the writer, payment options, feel free to join live chat. Be sure to get a fast response. They can also give you the exact price quote, taking into account the timing, desired academic level of the paper, and the number of pages.