This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: When designing tests of controls and substantive tests of transactions for cash receipts, it is ... (Read 42 times)

nanna

  • Full Member
  • ***
  • Posts: 159
on: Aug 21, 2022

Question 1

When an employee who is authorized to make customer entries in the accounts receivable subsidiary ledger purposefully enters cash received into the wrong customer's account, that employee may be suspected of
◦ kiting.
◦ lapping.
◦ floating.
◦ shorting.

Question 2

When designing tests of controls and substantive tests of transactions for cash receipts, it is important to remember that
◦ the test of controls are designed to test for monetary misstatements.
◦ auditors use the same methodology for designing tests of controls and substantive tests of transactions for cash receipts as they use for sales.
◦ the tests of controls are not dependent on the controls the auditor identifies.
◦ the tests of controls are not dependent on whether the company being audited is publicly traded.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by nanna on Aug 21, 2022

MajorWaffle

  • Full Member
  • ***
  • Posts: 177
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.
Answer Preview
Only 39% of students answer this correctly


nanna

  • Member
  • Posts: 159
Reply 2 on: Aug 21, 2022
Excellent

meganmoser117

  • Member
  • Posts: 303
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Procedures for Diagnostic Tests Related to the Digestive System Procedures for Diagnostic Tests Related to the Digestive System
Procedures for Diagnostic Tests Related to the Musculoskeletal system Procedures for Diagnostic Tests Related to the Musculoskeletal system
Wintrobe tube and Westergren tests are used to measure the ESR. Wintrobe tube and Westergren tests are used to measure the ESR.
Active range of motion (AROM) tests for the shoulder. A, Apley Scratch Test. B and C, Internal ... Active range of motion (AROM) tests for the shoulder. A, Apley Scratch Test. B and C, Internal ...
Ryan Gosling Pop-Psych Tests Ryan Gosling Pop-Psych Tests
Prenatal Diagnostic Tests Prenatal Diagnostic Tests
Video: The Lagging Strand in DNA Replication and Replication in Action

For a complete list of videos, visit our video library