The audit procedure "Test clerical accuracy by footing the journals and tracing postings to general ledger and to accounts payable and inventory master files" is used to test the posting and summarization objective for acquisitions.
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Q64: Because of the importance of tests of
Q65: The audit procedure "Examine canceled check for
Q66: Since there are a large number of
Q67: One of important internal controls over cash
Q68: Auditors are normally more concerned about violations
Q70: Failure to record the acquisition of goods
Q71: Auditors typically perform the acquisitions and cash
Q72: Internal controls that are likely to prevent
Q73: For effective internal control purposes, the accounts
Q74: Matching the supplier's invoice, the purchase order,
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