In planning an audit for the revenue cycle, the auditor must realize the integrated relationship of evidence found between the accounts receivable and the notes payable accounts.

Question

Quizplus · Accepted Answer

Accounts receivable and notes payable are not directly related in the revenue cycle; accounts receivable is related to sales and collections, while notes payable is related to borrowing and liabilities.

In Planning an Audit for the Revenue Cycle, the Auditor