Which of the Following Will an Auditor Not Perform When

question 101

Multiple Choice

Which of the following will an auditor not perform when looking for additions to debt?

• A)Trace the proceeds into the cash receipts records.
• B)Examine canceled notes.
• C)Obtain assurance regarding board approval of the debt through review of board meeting minutes.
• D)Trace the proceeds into the bank statement.

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Definitions:

Unit

Refers to a single, complete item of a product or a measure of quantity in terms of number, length, or volume in a given context.

Drop-Shipping

A retail fulfillment method where a store doesn't keep the products it sells in stock. Instead, when a store sells a product, it purchases the item from a third party and has it shipped directly to the customer.

Outbound Distance

The distance traveled by goods from a warehouse or distribution center to the final customer or destination.

Package Carriers

Companies that specialize in the delivery of packages and documents.