Theresa Bamboukian Started Her Sales Process Audit and Was Accounting

question 2

Multiple Choice

Theresa Bamboukian started her sales process audit and was accounting for the numerical sequence of sales invoices, sales orders and shipping documents. In addition she performed a
Reconciliation of billings with shipping documents. Which assertions was she fulfilling?

• A) existence, accuracy
• B) completeness, cutoff
• C) existence, valuation and allocation
• D) none of the above

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Definitions:

Except

Used to specify a exclusion, indicating a scenario or instance that does not follow the general rule.

Chronic Stress

A prolonged and constant feeling of stress that can deteriorate one’s health and well-being.

Long-Term Illness

A chronic condition or disease that lasts for an extended period, often requiring ongoing treatment and management.

Financial Problems

Financial problems refer to difficulties related to the management, allocation, and sustainability of monetary resources.