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The Auditor Obtained an Aged List of Receivables and Traced

question 61

Multiple Choice

The auditor obtained an aged list of receivables and traced the accounts to the master file, footed the schedule, and traced the amounts to the general ledger. Which balance-related audit objective was met?


Definitions:

Janitorial Services

A category of services that includes cleaning, maintaining, and often securing commercial or residential buildings.

Square Footages

A measurement of area used to determine the size of a space, often used in real estate and construction for billing or planning purposes.

Allocated

The process of distributing resources or costs among different departments, activities, or products.

Indirect Expense

Costs that are not directly linked to the production of goods or services but are necessary for the business's day-to-day operations, such as utilities and rent.

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