XYZ Brick Company Decided to Inflate Sales by Recording Fictitious

question 44

Multiple Choice

XYZ Brick Company decided to inflate sales by recording fictitious sales.Several non-existent clients were created and the sales were added into the sales journal throughout the year.The general transaction-related audit objective affected by these actions is

• A)occurrence.
• B)completeness.
• C)accuracy.
• D)posting and summarization.

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Definitions:

Parameter

A measurable feature or characteristic that helps to define or classify a system, often a constant in mathematical models and statistical analyses.

Exponentially Distributed

A statistical term used to describe the time between events in a Poisson point process, where events occur continuously and independently at a constant average rate.

Random Variable

An element with numerical values produced by the uncertainty of events.

Exponential Distribution

A constant probability distribution that models the time intervals between occurrences in a process where events happen continuously, independently, and at a steady average rate.