In Vouching Revenue Transactions, the Auditor Selects a Sample of Sales

question 110

Multiple Choice

In vouching revenue transactions, the auditor selects a sample of sales invoices to vouch to the supporting source documents in order to provide evidence pertaining to four assertions.Which ones are these (choose two options) ?

• A)Occurrence and accuracy
• B)Classification and cutoff
• C)Completeness and existence
• D)Understandability and classification

---

Definitions:

Managerial Levels

The tiers of management in an organization, typically including top-level executives, middle managers, and first-level managers, each with different roles and responsibilities.

Performance Pay Plans

Compensation strategies designed to directly link employees' pay with their performance or achievements in the workplace.

Discontinuation Rates

The rate at which products or services are discontinued or taken out of production or availability.

Mandatory Indirect Pay

Required compensation benefits provided by employers, such as social security contributions and unemployment insurance, that are not part of direct wages.