Which of the Following Tests of Controls Most Likely Would

question 7

Multiple Choice

Which of the following tests of controls most likely would help assure an auditor that goods shipped are properly billed?

• A)Scan the sales journal for sequential and unusual entries.
• B)Examine shipping documents for matching sales invoices.
• C)Compare the accounts receivable ledger to daily sales summaries.
• D)Inspect unused sales invoices for consecutive prenumbering.

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Definitions:

Major Issues

Significant problems or debates that are of widespread concern within a society or political system.

Repayment of Debts

The process of paying back money borrowed from lenders, which can involve regular payments of principal and interest over a specified period.

Foreign Trade

The exchange of goods and services across international borders or territories, influencing a country's economy.

Final Ratification

The formal confirmation or validation of an agreement, treaty, or constitution.