Tracing a sample of recorded cash receipts from the cash receipts journal to the bank statement is an audit procedure designed to satisfy the control objective of ________.

Question

Quizplus · Accepted Answer

Tracing cash receipts from the journal to the bank statement ensures that the receipts recorded in the journal were actually deposited into the bank, thus verifying the validity of the recorded transactions.

Tracing a Sample of Recorded Cash Receipts from the Cash