Which of the Following Audit Procedures Does Not Address Existence/occurrence

question 4

Multiple Choice

Which of the following audit procedures does not address existence/occurrence for accounts receivables and sales?

• A) Trace bill of lading to sales invoice and sales journal.
• B) Confirm balances of unpaid invoices with customers.
• C) Examine subsequent collection.
• D) Scan sales journal for duplicate entries.

Identify the appropriate journal for various types of transactions including operational and financial activities.

Grasp the concept and importance of specialized journals in organizing financial information.

Analyze and interpret business transactions and their impact on company financial statements.

Comprehend the process of posting transactions from journals to subsidiary and general ledgers.

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Definitions:

Ambiguous Figures

Images or objects that can be perceived in more than one way and are often used in psychological tests to study perception.

Error Interpretation

The process of understanding and analyzing mistakes or inaccuracies, whether in data, actions, thoughts, or speech.

Binding Problem

The question of how the brain integrates information from different sensory modalities to produce a unified perception of an object.

Mechanism

An underlying process or system through which something operates or produces an effect, often explaining how or why a phenomenon occurs.