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Author Question: For most audits, a proper cash receipts cutoff is less important than the sales cutoff because the ... (Read 274 times)

Apple716

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on: Aug 21, 2022

Question 1

For effective internal control, employees maintaining the accounts receivable subsidiary ledger should not also approve
◦ employee overtime wages.
◦ credit granted to customers.
◦ write-offs of customer accounts.
◦ cash disbursements.

Question 2

For most audits, a proper cash receipts cutoff is less important than the sales cutoff because the improper cutoff of cash
◦ is detected and correct when cash is separately audited.
◦ is unlikely to have a material impact on the balance sheet or the income statement.
◦ affects items on the balance sheet but does not affect net income.
◦ rarely occurs given the control consciousness of most entities.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by Apple716 on Aug 21, 2022

as4309

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Reply #1 on: Aug 21, 2022
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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Apple716

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

kishoreddi

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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