An Auditor Most Likely Would Limit Substantive Tests of Sales

question 23

Multiple Choice

An auditor most likely would limit substantive tests of sales transactions when control risk is assessed as low for the existence or occurrence assertions concerning sales transactions and the auditor has already gathered evidence supporting:

• A)opening and closing inventory balances.
• B)cash receipts and accounts receivable.
• C)receiving activities.
• D)cutoffs of sales and purchases.

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Definitions:

Fitness Level

A measure of one's overall physical health and ability, often determined by factors such as endurance, strength, and flexibility.

Conditioning Phase

A stage in physical training focused on developing specific physical or performance attributes, such as strength, endurance, or skill.

Workout

A session of physical exercise or training performed to improve fitness, health, or physical performance.

Minutes

A unit of time equal to sixty seconds or one-sixtieth of an hour.