Below Are Five Audit Procedures,all of Which Are Tests of Transactions

question 85

Essay

Below are five audit procedures,all of which are tests of transactions associated with the audit of the sales and collection cycle.Also below are the six general transaction-related audit objectives and the five management assertions.For each audit procedure,indicate (1)its audit objective,and (2)the management assertion being tested. 1.Vouch recorded sales from the sales journal to the file of bills of lading.
(1)________.
(2)________.
2.Compare dates on the bill of lading,sales invoices,and sales journal to test for delays in recording sales transactions.
(1)________.
(2)________.
3.Account for the sequence of prenumbered bills of lading and sales invoices.
(1)________.
(2)________.
4.Trace from a sample of prelistings of cash receipts to the cash receipts journal,testing for names,amounts,and dates.
(1)________.
(2)________.
5.Examine customer order forms for credit approval by the credit manager.
(1)________.
(2)________.

Appreciate the use of contrast and careful selection of colors in enhancing graphic communication.

Understand copyright laws and ethical practices pertaining to the use of graphics.

Recognize the need for citing sources when using or modifying existing graphics.

Grasp the concept of choosing the appropriate types of graphics for specific data presentation and audience.

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Definitions:

Bottom-up Processing

An approach to information processing that starts with the sensory input and builds up to the final representation in the brain.

Absolute Threshold

The minimum stimulus energy needed to detect a particular stimulus 50 percent of the time.

Different Pitches

Variations in the frequency of sound waves, resulting in different tones or musical notes perceived by the listener.

Sensation

The method through which our sensory receptors and nervous system accept and depict energy from stimuli in our environment.