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Author Question: Cash receipts from sales on account have been misappropriated. Which of the following acts would ... (Read 73 times)

bubba123

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on: Aug 21, 2022

Question 1

An audit procedure that compares the name, amount, and dates shown on remittance advices with cash receipts journal entries and with related duplicate deposit slips would be effective in detecting
◦ kiting.
◦ lapping.
◦ unauthorized write-offs of customers as uncollectible accounts.
◦ sales without proper credit authorization.

Question 2

Cash receipts from sales on account have been misappropriated. Which of the following acts would conceal this fraud and be least likely to be detected by an auditor?
◦ understating the sales journal by not recording cash sales
◦ overstating the accounts receivable control account by intentionally misstating prices charged for goods sold
◦ overstating the accounts receivable subsidiary ledger by not recording payments made by customers
◦ understating the cash receipts journal by purposely recording incorrect amounts
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by bubba123 on Aug 21, 2022

swagmaster69

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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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bubba123

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

xiazhe

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

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