In Order to Test Programmed Application Controls in the Revenue

question 50

Multiple Choice

In order to test programmed application controls in the revenue cycle and determine whether expected results appear on exception reports, an auditor might submit a/an _________ (choose two options) .

• A)missing customer code
• B)order that exceeds a customer's credit limit
• C)valid product code
• D)invoice quantity matching quantity on shipping documents

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Definitions:

Crane

A tall machine used for moving heavy objects by suspending them from a projecting arm or beam.

Sum-Of-The-Years-Digits

A depreciation method that accelerates the recognition of expenses by applying a decreasing fraction to the depreciable value each year, based on the sum of the years’ digits.

Office Furniture

Items and fixtures used in an office setting for working and storage purposes, including desks, chairs, and file cabinets.

Straight-Line Method

A way of calculating depreciation by evenly spreading the cost of an asset over its useful life.