Which of the Following Audit Procedures Is an Auditor Most

question 69

Multiple Choice

Which of the following audit procedures is an auditor most likely to perform in testing controls related to management's assertion about the completeness of sales?

• A)Verify that extensions and footings on the entity's sales invoices and monthly customer statements have been recomputed.
• B)Inspect the entity's reports of pre-numbered shipping documents that have not been recorded in the sales journal.
• C)Compare the invoiced prices on pre-numbered sales invoices to the entity's authorized price list.
• D)Inquire about the entity HYPERLINK "" .

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Definitions:

Statistical Techniques

Various mathematical methods used for collecting, analyzing, interpreting, and presenting empirical data.

Future Buying Behavior

Predicted patterns of purchase by consumers based on various influencing factors like trends, economic conditions, and personal preferences.

Securities And Exchange Commission

A U.S. federal agency responsible for regulating the securities industry, enforcing federal securities laws, and ensuring investor protection.

Financial Information

Data regarding the financial status of an entity, including income, expenses, assets, liabilities, and equity, often used for analysis.