The Control Test That Requires "The Auditor to Compare Recorded

question 73

Multiple Choice

The control test that requires "the auditor to compare recorded transactions in the acquisitions journal with the vendor's invoice,receiving report,and other supporting documentation" satisfies the objective of

• A)occurrence.
• B)classification.
• C)completeness.
• D)accuracy.

---

Definitions:

Total Revenue

The total amount of money received by a company from the sale of its goods or services before any expenses are subtracted.

Total Variable Cost

The total expense that changes in proportion to changes in the volume of output or production.

AVC

Average Variable Cost, which is the total variable costs of production divided by the quantity of output produced.

ATC

Stands for Average Total Cost, a metric that represents the per-unit total cost of production, including both fixed and variable costs.