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sh03641

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Below are five audit procedures, all of which are tests of transactions associated with the audit of the acquisition and payment cycle. Also, below are the six general transaction-related audit objectives and the five management assertions. For each audit procedure, indicate (1) its audit objective, and (2) the management assertion being tested.

Audit Objectives
A. occurrence
B. completeness
C. accuracy
D. posting and summarization
E. classification
F. timing
Assertions
V. occurrence
W. completeness
X. accuracy
Y. classification
Z. cutoff

1. Foot the purchases journal and trace the totals to the related general ledger accounts.
 (1) ________
 (2) ________

2. Recompute the cash discounts taken by the client.
 (1) ________
 (2) ________

3. Compare dates on cancelled checks with the bank cancellation date.
 (1) ________
 (2) ________

4. Trace from a sample of cancelled checks to the cash disbursements journal.
 (1) ________
 (2) ________

5. Examine supporting documentation for a sample of transactions for authorized payee and amount and to determine services or goods were received.
 (1) ________
 (2) ________


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Marked as best answer by sh03641 on Aug 21, 2022

kaynelson17

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Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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sh03641

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Reply 2 on: Aug 21, 2022
Thanks for the timely response, appreciate it


samiel-sayed

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Reply 3 on: Yesterday
Excellent

 

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