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: South-Western College Pub
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Chapter 10, Problem 39RSCQ
Match the following assertions with their associated description: (a) existence/occurrence, (b) completeness. (c) rights and obligations, (d) valuation or allocation, (e) presentation and disclosure.
1. Cash accounts arc properly classified on the
2. Cash balances exist at the balance sheet date.
3. The recorded balances reflect the true underlying economic value of those assets.
4. The company has title to the cash accounts as of the balance sheet date.
5. Cash balances include all cash transactions that have taken place during the period.
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Auditing: A Risk Based-Approach to Conducting a Quality Audit
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