An Auditor Who Uses a Transaction Cycle Approach to Assessing

question 24

Multiple Choice

An auditor who uses a transaction cycle approach to assessing control risk most likely would test control activities related to transactions involving the sale of goods to customers with the:

• A)Collection of receivables.
• B)Purchase of merchandise inventory.
• C)Payment of accounts payable.
• D)Sale of long-term debt.

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Definitions:

School Grades

Symbols or letters used to represent a student's level of achievement in a course or class.

Test Bias

Test bias refers to systematic errors in a test that lead to inaccurate or unfair results, often disadvantaging a particular group of people.

Stereotype Threat

The risk of confirming negative stereotypes about an individual's racial, ethnic, gender, or cultural group which can hinder their performance.

Black Students

This term refers to individuals of African descent who are enrolled in educational institutions. It is important to approach this category with sensitivity and awareness of diverse backgrounds and experiences.