Which Procedure Would Be of Most Assistance to an Auditor

question 59

Multiple Choice

Which procedure would be of most assistance to an auditor discovering a large credit sale that has erroneously been recorded twice?

• A)Footing the sales journal.
• B)Confirming accounts receivable.
• C)Tracing the total sales in the sales journal to the general ledger.
• D)Observation of the physical inventory count at year-end.

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Definitions:

Computer Software

Computer software is a collection of data or computer instructions that tell the computer how to work, covering everything from operating systems to application programs.

Oil Company

An enterprise engaged in the exploration, extraction, refining, and selling of oil and petroleum products.

Seasoned Offerings

The issuance of additional shares by a company whose shares are already publicly traded.