Cutoff misstatements occur when

[connormoss]

Question 1

Cutoff misstatements can occur for
◦

Sales	Sales returns and allowances
Yes	Yes

◦

Sales	Sales returns and allowances
No	No

◦

Sales	Sales returns and allowances
Yes	No

◦

Sales	Sales returns and allowances
No	Yes

Question 2

Cutoff misstatements occur when
◦

The auditor fails to obtain the end-of-year bank statement directly from the bank, obtaining instead the statement which includes the two succeeding weeks	Subsequent period  transactions are  recorded in the  current period	Current period  transactions are  recorded in the  subsequent period
Yes	Yes	No

◦

The auditor fails to obtain the end-of-year bank statement directly from the bank, obtaining instead the statement which includes the two succeeding weeks	Subsequent period  transactions are  recorded in the  current period	Current period  transactions are  recorded in the  subsequent period
Yes	No	Yes

◦

The auditor fails to obtain the end-of-year bank statement directly from the bank, obtaining instead the statement which includes the two succeeding weeks	Subsequent period  transactions are  recorded in the  current period	Current period  transactions are  recorded in the  subsequent period
No	Yes	Yes

◦

The auditor fails to obtain the end-of-year bank statement directly from the bank, obtaining instead the statement which includes the two succeeding weeks	Subsequent period  transactions are  recorded in the  current period	Current period  transactions are  recorded in the  subsequent period
No	Yes	No

[fdsajkl]

A FREE account is required to view all solutions! Click to Register

Login with Facebook Login with Google Login with Email

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.

Answer Preview

Only 35% of students answer this correctly

[connormoss]

YES! Correct, THANKS for helping me on my review

[mammy1697]

Excellent