Answered: The control procedure “credit sales…

The control procedure “credit sales approved by credit department” is directed toward which assertion?a. Existence/Occurrence.b. Completeness.c. Valuation/Accuracy.d. Cutoff.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter5: Professional Auditing Standards And The Audit Opinion Formulation Process

Section: Chapter Questions

Problem 37CYBK

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Question

The control procedure “credit sales approved by credit department” is directed toward which assertion?
a. Existence/Occurrence.
b. Completeness.
c. Valuation/Accuracy.
d. Cutoff.

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