When testing the controls for the completeness transaction-related audit objectives,
A) failure to record the acquisition of goods or services will generally understate net income.
B) failure to record the acquisition of goods or services has no impact on the balance sheet.
C) it is generally easy for the auditor to determine whether unrecorded transactions exist.
D) the audit time for accounts payable can be reduced if the client has effective internal controls and the auditor properly tests those controls.
D
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A person who has no patience for ambiguity would have difficulty working in an organization with a ________
A) long-term orientation culture B) low power distance culture C) high masculinity culture D) low uncertainty avoidance culture
The main purpose of a pilot sample in an application involving an estimate for a population mean is to determine what the margin of error will likely be
Indicate whether the statement is true or false