For sales,the occurrence transaction-related audit objective affects the existence balance-related audit objective.For cash receipts,the occurrence transaction-related audit objective affects which balance-related audit objective?
A)existence
B)completeness
C)cutoff
D)valuation

Question

Quizplus · Accepted Answer

The occurrence transaction-related audit objective for cash receipts focuses on whether all cash receipts recorded actually occurred. This affects the completeness balance-related audit objective, which ensures that all cash receipts are recorded in the financial statements.

For Sales,the Occurrence Transaction-Related Audit Objective Affects the Existence Balance-Related