Solved

Auditors Are Auditing the Cash Receipts for Great Wall Corporation

Question 41

Matching

Auditors are auditing the cash receipts for Great Wall Corporation. For each audit procedure performed select the control objective being tested.

Premises:
For a sample of recorded cash receipts, the auditors compared the date of receipt to the recording date.
The auditors traced a sample of daily cash reports to the cash receipts journal.
The auditors vouched a sample of recorded cash receipts to the deposits in the bank statement.
The auditors recalculate the cash listed on the daily deposit for a sample of recorded cash receipts.
The auditors traced a sample of recorded cash receipts to postings in the correct customers' accounts.
Responses:
Existence
Completeness
Authorization
Accuracy
Classification
Accounting and posting
Proper period

Correct Answer:

Existence
Completeness
Authorization
Accuracy
Classification
Accounting and posting
Proper period
Related Questions

Q31: An auditor who discovers that client employees

Q32: Narbona, CPA, is reviewing controls over cash

Q33: Ed's wife Diane owns a printing business

Q34: An auditor would least likely initiate a

Q35: Which of the following statements is correct

Q36: Describe how a lockbox works and indicate

Q37: After checks are signed for vendor invoices,

Q38: A proof of cash:
A)is required by GAAS.
B)can

Q39: Micro Chip Corporation (MCC) has a special

Q40: Your client is in the process of

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents