Tests Designed to Detect Credit Sales Made Before the End

question 36

Multiple Choice

Tests designed to detect credit sales made before the end of the year that have been recorded in the subsequent year provide assurance about management's assertion of:

• A)Classification.
• B)Cut-off.
• C)Occurrence.
• D)Accuracy.

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Definitions:

Lack of Experience

The absence of prior exposure or familiarity with specific tasks, situations, or fields of endeavor.

Running

The action or activity of moving swiftly on foot, typically at a speed where both feet are off the ground simultaneously at regular intervals.

Bad Decisions

Choices made that lead to undesirable outcomes due to poor judgment, lack of information, or failure to anticipate consequences.

Insufficient Financing

A situation where the available financial resources are not adequate to support the current operations or growth plans of a business.