Roy Company, a CPA firm, conducted an audit for the 2020 financialstatements of Sally Corporation. During the course of the audit, theauditors found that shipments were made to an employee's friend andintentionally never recorded. Which of the following assertions wasviolated? *CompletenessClassificationO CutoffRights and obligationsNone of the above

Auditing:- When a company or a firm does business in a financial year, their books of accounts must…

Answered: intentionally never recorded. Which of…

Business

Accounting

intentionally never recorded. Which of the following assertions was violated?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Roy Company, a CPA firm, conducted an audit for the 2020 financial
statements of Sally Corporation. During the course of the audit, the
auditors found that shipments were made to an employee's friend and
intentionally never recorded. Which of the following assertions was
violated? *
Completeness
Classification
O Cutoff
Rights and obligations
None of the above

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