This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The journal entry testing prescribed by SAS No. 99 identifies several common characteristics of ... (Read 26 times)

corkyiscool3328

  • Hero Member
  • *****
  • Posts: 539
on: Jul 6, 2018
The journal entry testing prescribed by SAS No. 99 identifies several common characteristics of fraudulent entries. Which of the following is one such characteristic?
 
  A) an entry for credit sales to a buyer who does not pay his dues on time
  B) an entry for repairs and maintenance of plant made every period
  C) an entry for creating provisions for bad debts
  D) an entry for asset made by the managing director of the company

Question 2

Which of the following is true?
 a. The ledger account form maintains a running balance of the account.
   b. When recording business transactions, it is not important that one use the exact account titles as listed in the chart of accounts.
   c. The process of transferring information from the journal to the ledger is called journalizing.
   d. All of the answers listed are correct.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Amiracle

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jul 6, 2018
Answer to Question 1

D
Explanation: D) The JE testing prescribed by SAS No. 99 identifies several common characteristics of fraudulent entries. Such characteristics may include entries made by individuals who do not normally make journal entries.

Answer to Question 2

a


corkyiscool3328

  • Member
  • Posts: 539
Reply 2 on: Jul 6, 2018
Excellent

ghepp

  • Member
  • Posts: 361
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Common invasive species in the Adelaide Hills: Olive, Artichoke thistle, Fennel and Bamboo Common invasive species in the Adelaide Hills: Olive, Artichoke thistle, Fennel and Bamboo
Types and characteristics of stem cells for culture Types and characteristics of stem cells for culture
Diseases Common to the Elderly Diseases Common to the Elderly
The most common drug used to facilitate date rape is alcohol, not GHB. The most common drug used to facilitate date rape is alcohol, not GHB.
Some common eye disorders. (B) Cataract of right eye. (C) Stye. Some common eye disorders. (B) Cataract of right eye. (C) Stye.
SAT Testing Collage SAT Testing Collage
Video: Green alga life cycle Animation

For a complete list of videos, visit our video library