A)Describe Each of the Six Key Control Activities for Sales

question 43

Essay

A)Describe each of the six key control activities for sales.B)When assessing planned control risk for sales,the auditor is concerned about proper authorization at three key points.Discuss each of these three points.C)When testing the existence objective for sales,the auditor is concerned with the possibility of three types of misstatements.One type is sales being included in the journal for which no shipment was made.Discuss the other two types of misstatements.

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Definitions:

Floppy Disks

A type of data storage medium that was commonly used in the past, consisting of a thin disk of a flexible magnetic storage medium encased in a square or rectangular plastic shell.

Keyboards

Input devices used to enter characters and functions into a computer system by pressing keys.

Tapes

Refers to magnetic tape used for storing data, traditionally utilized in backup, archival, and data transportation.

System Program

A type of computer program designed to operate, control, and extend the processing capabilities of the computer itself.