You Are Concerned with Unrecorded Transactions in the Purchasing Cycle

question 60

Multiple Choice

You are concerned with unrecorded transactions in the purchasing cycle. Which audit procedure are you most likely to use when auditing purchases?

• A)Vouching transactions in accounting records to vendor invoices.
• B)Tracing vendor invoices to accounting records.
• C)Recalculation of vendor invoice amounts.
• D)Confirmation of customer accounts.

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Definitions:

Trade Publication

A magazine or journal published for and read by members of a particular trade group, offering industry-specific news and analysis.

Environmental Blog

A blog focused on topics related to the environment, sustainability, and ecological conservation efforts.

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The trend of cancelling or forgoing a cable television subscription or landline telephone service in favor of alternative internet-based or streaming services.

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