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

Author Question: For most audits, a proper cash receipts cutoff is less important than the sales cutoff because the ... (Read 252 times)

Apple716

  • Full Member
  • ***
  • Posts: 157
on: Aug 21, 2022

Question 1

For effective internal control, employees maintaining the accounts receivable subsidiary ledger should not also approve
◦ employee overtime wages.
◦ credit granted to customers.
◦ write-offs of customer accounts.
◦ cash disbursements.

Question 2

For most audits, a proper cash receipts cutoff is less important than the sales cutoff because the improper cutoff of cash
◦ is detected and correct when cash is separately audited.
◦ is unlikely to have a material impact on the balance sheet or the income statement.
◦ affects items on the balance sheet but does not affect net income.
◦ rarely occurs given the control consciousness of most entities.
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 Apple716 on Aug 21, 2022

as4309

  • Full Member
  • ***
  • Posts: 166
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 49% of students answer this correctly


Apple716

  • Member
  • Posts: 157
Reply 2 on: Aug 21, 2022
:D TYSM

milbourne11

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Polyploidy has been an important factor in the evolution of plants. Polyploidy has been an important factor in the evolution of plants.
Calcium Carbonate, an Important Carbon Sink Calcium Carbonate, an Important Carbon Sink
Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de
The French sociologist Emile Durkheim (1858–1917) contributed many important concepts to ... The French sociologist Emile Durkheim (1858–1917) contributed many important concepts to ...
The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ... The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ...
Calculation of the Value of Depletion for the 14 Most Important Minerals Calculation of the Value of Depletion for the 14 Most Important Minerals
Video: Effect of the environment on coat color in the Himalayan rabbit Animation

For a complete list of videos, visit our video library