An audit team is auditing sales transactions. One step is to vouch a sample of debit entriesfrom the accounts receivable subsidiary ledger back to the supporting sales invoices. Thepurpose of this audit procedure is to establish thata. Sales invoices represent bona fide sales.b. All sales have been recorded.c. All sales invoices have been properly posted to customer accounts.d. Entries in the accounts receivable subsidiary ledger were properly invoiced
An audit team is auditing sales transactions. One step is to vouch a sample of debit entriesfrom the accounts receivable subsidiary ledger back to the supporting sales invoices. Thepurpose of this audit procedure is to establish thata. Sales invoices represent bona fide sales.b. All sales have been recorded.c. All sales invoices have been properly posted to customer accounts.d. Entries in the accounts receivable subsidiary ledger were properly invoiced
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter8: Specialized Audit Tools: Sampling And Generalized Audit Software
Section: Chapter Questions
Problem 28MCQ
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An audit team is auditing sales transactions. One step is to vouch a sample of debit entries
from the
purpose of this
a. Sales invoices represent bona fide sales.
b. All sales have been recorded.
c. All sales invoices have been properly posted to customer accounts.
d. Entries in the accounts receivable subsidiary ledger were properly invoiced
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