Which of the following audit procedures would an auditor most likely perform to test controls relating to management’s assertion concerning the completeness of sales transactions?
A. Verify that extensions and footings on the entity’s sales invoices and monthly customer statements have been
recomputed.
B. Inspect the entity’s reports of prenumbered shipping documents that have not been recorded in the sales journal.
C. Compare the invoiced prices on prenumbered sales invoices to the entity’s authorized price list.
D. Inquire about the entity’s credit granting policies and the consistent application of credit checks.
Which of the following procedures would an auditor most likely perform to test controls relating to management’s assertion about the completeness of cash receipts for cash sales at a retail outlet?
A. Observe the consistency of the employees’ use of cash registers and tapes.
B.
Inquire about employees’ access to recorded but undeposited cash.
C. Trace the deposits in the cash receipts journal to the cash balance in the general ledger.
D. Compare the cash balance in the general ledger with the bank confirmation request.
Which of the following audit procedures would an auditor most likely perform to test controls relating to management'ss assertion concerning the completeness of sales transactions?
A. Verify the extensions and footings on the entity's sales invoice and monthly customer statements have been recomputed.
B. Inspect the entity's reports of prenumbered shipping documents that have not been recorded in the sales journal.
C. Compare the invoiced prices on the prenumbered sales invoices to the entity's authorized price list.
D. inquire about the entity's credit granting policies and the consistent application of credit checks.
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