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Author Question: Except for two key differences, the transaction-related audit objectives are essentially the same ... (Read 50 times)

C0DxHalo

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on: Aug 21, 2022

Question 1

The transaction-related audit objectives and the client's methods of controlling misstatements are essentially the same for credit memos as for sales with the exception of two differences. What are the two differences from the auditor's perspective?

Question 2

Except for two key differences, the transaction-related audit objectives are essentially the same for the processing of credit memos as they are for sales. Which of the following are the two key differences?
◦ risk and emphasis on the completeness objective
◦ materiality and emphasis on the accuracy objective
◦ risk and emphasis on the classification objective
◦ materiality and emphasis on the occurrence objective
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by C0DxHalo on Aug 21, 2022

H.cope00

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Reply #1 on: Aug 21, 2022
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C0DxHalo

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Reply 2 on: Aug 21, 2022
YES! Correct, THANKS for helping me on my review

cdmart10

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Reply 3 on: Yesterday
Wow, this really help

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