b. Existence and completeness objectives. c. Existence, realisable-value and accuracy o
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When auditing
a. Completeness and cut-off objectives.
b. Existence and completeness objectives.
c. Existence, realisable-value and accuracy objectives.
d. Posting and summarisation objective.
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- Discuss the meaning of the following terms and how they apply to auditing accounts receivable: a. tie-in b. completeness c. existence d. accuracy e. rights f. realizable value g. cutoff h. classification Please provide references.An auditor reviews aged accounts receivable to assess likelihood of collection to support management’s assertion about account balances of: Select one: a. rights and obligations b. existence. c. valuation and allocation d. completenessWhen auditing account balances of liabilities, auditors are most concerned with management’s assertion abouta. Existence.b. Rights and obligations.c. Completeness.d. Valuation and allocation.
- When auditing the accounts receivable account on the balance sheet, an auditor’s procedures most likely would focus primarily on management’s assertion ofa. Existence.b. Completeness.c. Presentation and disclosure.d. Rights and obligations.1. In auditing receivables, what are the audit objectives and how would you be performed to arrive at the most reliable information to express an opinion?When auditing the accounts receivable account on the balance sheet, an auditor’s procedures most likely would focus primarily on management’s assertion of Select one: a. Presentation and disclosure b. Existence c. Rights and obligations d. Completeness.
- Which is not a Risk Assessment Procedure? a. Ratio Analysis b. Observation of Activities c. Account Receivable confirmations d. Inspection of Documents e. Inquiry of Internal AuditorsAuditors try to identify predictable relationships when using analytical procedures. Relationships involving transactions from which of the following accounts would most likely yield the highest level of evidence? a. Accounts receivable. O b. Interest expense. O c. Travel and entertainment expense. O d. Accounts payable.In the audit of accounts payable, an auditor’s procedures will most likely focusprimarily on management’s assertion about account balances of(1) existence. (3) valuation and allocation.(2) completeness. (4) classification and understandability.
- The auditor's assessment of the reliability and sufficiency of the information contained in the underlying accounting records is a part of ______________ a. Audit Test b. Comparison c. Evaluation d. JudgementAuditors try to identify predictable relationships when using analytical procedures. Relationshiipss involvingtransactions fromwhich of the following accounts most likely would yield the highest level of evidence? a. accounts receivable b. interest expense c. accounts payable d. Travel and entertainment expenseAn auditor's techniques for examining the balance sheet's accounts receivable account are most likely to concentrate on management's claim of