For Each of the Following Audit Procedures,state and Describe the Type

question 84

Essay

For each of the following audit procedures,state and describe the type of audit evidence,state the audit assertion that it applies to,and describe the reliability of the evidence (with reasons).
A)Watch staff scan products and enter cash received.
B)Reconcile daily cash drawer receipts (cash,debit card sales,credit card sales)with daily sales for one week.
C)Calculate daily gross profit and gross profit by product line.
D)Account for a sequence of sales documents.

• A)Watch staff scan products and enter cash received.
• B)Reconcile daily cash drawer receipts (cash,debit card sales,credit card sales)with daily sales for one week.
• C)Calculate daily gross profit and gross profit by product line.
• D)Account for a sequence of sales documents.

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Definitions:

Null Hypothesis

A statement of no effect or no difference, which researchers aim to test against the alternative hypothesis.

Rejection Region

The interval of data points that necessitate the null hypothesis's rejection within hypothesis testing.

Alternative Hypothesis

A statement that indicates there is a statistically significant difference between two or more sets of data.

One-Sided Hypothesis

A one-sided hypothesis test, also known as a directional hypothesis, tests the possibility of a relationship in a specific direction.