Question 1
In many audits, no substantive tests of transactions are made for the ________ assertion on the grounds that understatement of sales is
not a concern.
◦ accuracy
◦ existence
◦ completeness
◦ None of these
Question 2
Prenumbered documents are intended to help
◦
| Prevent the failure to bill or record sales | Prevent duplicate billings or recordings of sales |
| Yes | Yes |
◦
| Prevent the failure to bill or record sales | Prevent duplicate billings or recordings of sales |
| No | No |
◦
| Prevent the failure to bill or record sales | Prevent duplicate billings or recordings of sales |
| Yes | No |
◦
| Prevent the failure to bill or record sales | Prevent duplicate billings or recordings of sales |
| No | Yes |
