As Part of the Audit of Sales,the Auditor Has Used

question 4

Multiple Choice

As part of the audit of sales,the auditor has used attribute sampling to select a sample of sales invoices.The auditor has examined the duplicate sales invoice to determine whether it was approved for credit.Which of the following would be termed the "exception?" The

• A)sales invoice number.
• B)approval initials.
• C)name of the person who approves credit.
• D)absence of an authorization.

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Definitions:

Yield Rate

The rate of return on an investment over a specified period, often expressed as a percentage.

Cost Schedule

A list or plan that outlines the anticipated costs involved in a project or business operation over time.

Ceramic Plates

Durable dishes made from clay that are hardened by heat, commonly used for eating, serving, and decoration purposes.

Flawed Units

items that have defects or do not meet the quality standards set by the manufacturer or industry, rendering them less valuable or unsellable.