The test of transactions, which requires 'compare paid cheques with the related acquisitions journal and cash payments journal', satisfies which transaction-related audit objective for cash payments?
A) existence
B) completeness
C) accuracy
D) posting and summarisation

Question

Quizplus · Accepted Answer

Comparing paid cheques with the related acquisitions journal and cash payments journal helps ensure that the amounts recorded in the journals accurately reflect the actual cash payments made, thus satisfying the accuracy objective.

The Test of Transactions, Which Requires 'Compare Paid Cheques with the Related