Rank the Reliability of the Following Items of Audit Evidence

question 116

Multiple Choice

Rank the reliability of the following items of audit evidence: 1. A sales invoice issued by the company
2) Confirmation of an account receivable balance mailed by and returned directly to the auditor
3) Minutes of a board meeting
4) A copy of a signed lease agreement

• A) 2, 3, 4, 1
• B) 3, 4, 2, 1
• C) 2, 4, 1, 3
• D) 4, 3, 2, 1

---

Definitions:

Sales Process

A series of steps or stages followed by a salesperson or organization to sell a product or service effectively.

The Approach

The initial stage in the sales process where the salesperson makes first contact with the potential customer.

Prospecting

The method of finding possible customers, clients, or purchasers for the products or services offered by a business.

The Close

Refers to the point in a sales process where a salesperson convinces the client to make a purchase.