The Control Objective Associated with Selecting a Sample of Cash

question 46

Multiple Choice

The control objective associated with selecting a sample of cash receipts remittance lists (or daily cash reports) and tracing them through to the cash receipts journal is ________.

• A)validity
• B)completeness
• C)existence
• D)authorization

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Definitions:

Asset Management

The practice of effectively managing a company's tangible and intangible assets to maximize their value.

Debt Management

The process of overseeing and controlling an entity's debt load through financial planning, budgeting, and various strategies to ensure financial stability.

Horizontal Analysis

A financial analysis technique that compares historical financial data over a series of periods to identify trends and growth patterns.

Gross Profit Ratio

A financial metric indicating the proportion of money left from revenues after accounting for the cost of goods sold, presented as a percentage.