The Procedure That Relies on the Auditor Testing the Physical

question 78

Short Answer

The procedure that relies on the auditor testing the physical evidence to verify that a control has been performed properly is known as _______.

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Definitions:

Net Cash

Represents the amount of cash remaining after all cash outflows are subtracted from total cash inflows over a specific period of time.

Operating Activities

Business actions directly related to the production and delivery of goods and services, generating most of a company's revenue and expenses.

Statement Of Cash Flows

A financial report that provides aggregate data regarding all cash inflows a company receives from its ongoing operations, financial investments, and external financing, as well as all cash outflows that pay for business activities and investments during a given period.

Accounts Receivable

Money owed to a company by its customers for goods or services delivered but not yet paid for.