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Author Question: You are reviewing sales to discover cutoff problems. If the client's policy is to record sales when ... (Read 60 times)

lauraleepop

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on: Aug 21, 2022

Question 1

Which of the following most likely would be detected by a review of a client's sales cutoff?
◦ excessive sales discounts
◦ unrecorded sales for the year
◦ unauthorized goods returned for credit
◦ lapping of year-end accounts receivable

Question 2

You are reviewing sales to discover cutoff problems. If the client's policy is to record sales when title to the merchandise passes to the buyer, then the books and records would contain errors if the December 31 entries were for sales recorded
◦ before the merchandise was shipped.
◦ at the time the merchandise was shipped.
◦ several days subsequent to shipment.
◦ at a time after the point at which title passed.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by lauraleepop on Aug 21, 2022

ahardin89

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Reply #1 on: Aug 21, 2022
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lauraleepop

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Reply 2 on: Aug 21, 2022
Excellent

TheDev123

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Reply 3 on: Yesterday
Wow, this really help

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