Question 1
The appropriate and sufficient evidence to be obtained from tests of details must be decided on an
◦ efficiency basis.
◦ effectiveness basis.
◦ objective-by-objective basis.
◦ None of these
Question 2
The two primary classes of transactions in the sales and collection cycle are
◦ sales and sales discounts.
◦ sales and cash receipts.
◦ sales and sales returns.
◦ sales and accounts receivable.