Examlex
The results of tests of controls and tests of details of balances affect the design of substantive tests of transactions.
Subsidiary Ledger
A subsidiary ledger is a detailed ledger containing individual accounts with a common characteristic, which is summarized and presented in a single account in the general ledger.
Control Account
A summary account in the general ledger that consolidates and reflects the total amount of transactions recorded in subsidiary ledgers for easier oversight and reconciliation.
Invoice Price
The initial quoted price on an invoice prior to deductions such as discounts, allowances, or rebates.
Q4: Of the four factors which determine the
Q5: Although most cases of fraudulent financial reporting
Q11: An exception in a test of control
Q28: Which analytical procedure would be most helpful
Q47: The financial statements are NOT likely to
Q47: When auditing accounts payable, auditors are usually
Q52: Which one of the following audit tests
Q54: The auditor's primary concern is the risk
Q77: Phase III of the audit primarily relies
Q89: Misstatements involving the existence objective for sales