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You are auditing SBT, which has a December 31ˢᵗ year-end. On December 24ᵗʰ, the person responsible for processing receiving reports and recording the receipt of inventory became very ill and was out of the office for a week. Due to the company's small staff and the holiday season, a number of the receiving reports were not processed on a timely basis. As an auditor, on which assertion would you place a high importance for this entity and how would you test for it?
Analogy Heuristic
An analogy heuristic is a mental shortcut that allows individuals to solve problems and make judgments quickly by finding similarities between the current situation and past experiences.
Means-End Analysis
A problem-solving strategy that involves breaking down a problem into smaller problems and solving each one to reach an overall goal.
Working Backwards
A problem-solving strategy that involves starting from the desired outcome and working in reverse order to determine the steps needed to achieve that goal.
Mental Set
The tendency to apply a familiar strategy to the solution of a problem without carefully considering the special requirements of that problem.
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