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Author Question: In many audits of sales transactions substantive tests of transactions can be reduced in determining ... (Read 51 times)

billyboy7272

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on: Aug 21, 2022
In many audits of sales transactions substantive tests of transactions can be reduced in determining the completeness objective because
◦ understatements of assets and income are a greater concern than overstatements.
◦ overstatements of assets and income are a greater concern than understatements.
◦ it doesn't matter if income is understated because the savings on income tax offsets the reduced revenue and net income is correct.
◦ the unrecorded sales cause a reduction of accounts receivable; therefore, the ratios of the two financial statements will not be misleading.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by billyboy7272 on Aug 21, 2022

Tussalpain

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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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billyboy7272

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

kjohnson

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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