Tests of Which Balance-Related Audit Objective Are Normally Performed First

question 38

Multiple Choice

Tests of which balance-related audit objective are normally performed first in an audit of the sales and collection?

• A) accuracy
• B) completeness
• C) rights
• D) detail tie-in

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Definitions:

Finished Products

Goods that have completed the manufacturing process and are ready for sale or distribution to customers.

5Ss

A workplace organization methodology focusing on standardizing procedures and optimizing cleanliness and order, originating from five Japanese terms: Seiri, Seiton, Seiso, Seiketsu, and Shitsuke.

Lean Operations

Eliminate waste through a focus on exactly what the customer wants.

Organizational Culture

The shared values, beliefs, and practices that shape the social and psychological environment of a business or organization.