As an Input to the Accounting Information System, a Properly

question 69

Multiple Choice

As an input to the accounting information system, a properly completed sales invoice can help an auditor with which of the following financial statement assertions?

• A)Existence or occurrence
• B)Completeness
• C)Both existence or occurrence and completeness
• D)Neither existence or occurrence nor completeness

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Definitions:

Bailees

Individuals or entities who have temporary possession or custody of personal property belonging to another.

Common Carriers

Businesses that offer transportation services to the public under the authority of a regulatory body.

Reward

A benefit, often monetary, given in recognition of one's service, effort, or achievement.

Bailment

A legal relationship in which physical possession of personal property is transferred from one party to another, with the obligation of safekeeping.