You Are Part of the Audit Team That Is Auditing

question 71

Essay

You are part of the audit team that is auditing Hillsburg Hardware Co.and you have been assigned to the sales and collection business process.You are testing whether the cash received has been recorded in the cash receipts journal.(completeness objective /assertion).List two tests of controls and at least one test of transactions that you would do to satisfy yourself regarding the completeness assertion.

Identify and apply effective techniques for participating in and conducting meetings.

Recognize the role and rules of parliamentary procedure in formal group settings.

Understand the nature of listening and its components, including remembering and filtering.

Know the characteristics of effective voice mail communication.

---

Definitions:

Breach of Contract

The failure, without legal justification, to fulfill one's obligations under a contract.

Reimburse

To repay money that has been spent or lost, often associated with expenses incurred during employment or other approved activities.

Redecorating

Redecorating involves making changes to the decoration of an interior space, such as altering its style, layout, or furnishings, to refresh or update its appearance.

Expenses

Costs incurred during the operation of a business or the execution of a task.