Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion. To ascertain: the procedure that the auditor should use to clear the exception

Question

The auditors have determined that each of the following objectives will be a part of the audit of SSC Corporation. While several procedures will ordinarily address an audit objective, select the procedure most directly related to the audit objective. Each procedure may be used once, more than once, or not at all. 1. All receivables that should be recorded are recorded as of year-end. 2. Recorded receivables are at appropriate net realizable values. 3. Recorded receivables exist. 4. The client has rights to recorded year-end receivables. 5. The presentation and disclosure of receivables are adequate. Trace a sample of sales invoiced from late in December to the sales journal and to postings in accounts receivable and sales amounts. Review the aged trial balance for significant past due accounts. Review board of director minutes and underlying contracts and sales terms with customers. Vouch year-end accounts…

Answer 1

Question

Chapter 9, Problem 39RQSC

a

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

b

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

c

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

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The auditors have determined that each of the following objectives will be a part of the audit of SSC Corporation. While several procedures will ordinarily address an audit objective, select the procedure most directly related to the audit objective. Each procedure may be used once, more than once, or not at all. 1. All receivables that should be recorded are recorded as of year-end. 2. Recorded receivables are at appropriate net realizable values. 3. Recorded receivables exist. 4. The client has rights to recorded year-end receivables. 5. The presentation and disclosure of receivables are adequate. Trace a sample of sales invoiced from late in December to the sales journal and to postings in accounts receivable and sales amounts. Review the aged trial balance for significant past due accounts. Review board of director minutes and underlying contracts and sales terms with customers. Vouch year-end accounts…

Answer 2

Question

Chapter 9, Problem 39RQSC

a

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

b

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

c

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

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Answer 3

Question

Chapter 9, Problem 39RQSC

a

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

b

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

c

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

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Answer 4

Question

Chapter 9, Problem 39RQSC

a

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

b

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

c

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

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Answer 5

Chapter 9, Problem 39RQSC

a

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

b

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

c

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

Answer 6

Chapter 9, Problem 39RQSC

a

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

Answer 7

Chapter 9, Problem 39RQSC

a

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

Answer 8

b

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

Answer 9

b

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

Answer 10

c

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

Answer 11

c

To determine

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

Answer 12

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Answer 23

Ch. 9 - In the revenue cycle, the most significant...Ch. 9 - Which of the following statements is true...Ch. 9 - Prob. 4CYBK Ch. 9 - Prob. 7CYBK Ch. 9 - Prob. 8CYBK Ch. 9 - Prob. 9CYBK Ch. 9 - Prob. 10CYBK Ch. 9 - Prob. 11CYBK Ch. 9 - Prob. 12CYBK Ch. 9 - Prob. 13CYBK

Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion. To ascertain: the procedure that the auditor should use to clear the exception

Solution Summary: The author explains that audit procedures determine the quality of financial information by the auditors and finally they express their opinion.

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

Chapter 9 Solutions

Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion. To ascertain: the procedure that the auditor should use to clear the exception

Solution Summary: The author explains that audit procedures determine the quality of financial information by the auditors and finally they express their opinion.

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion. To ascertain:the procedure that the auditor should use to clear the exception

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion. To ascertain:the procedure that the auditor should use to clear the exception

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion. To ascertain:the procedure that the auditor should use to clear the exception

Chapter 9 Solutions

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception

Introduction:Audit procedures are used to determine the quality of financial information by the auditors and finally they express their opinion.

To ascertain:the procedure that the auditor should use to clear the exception