Invoices are prepared using a date equal to the shipping date.This control pertains to which transaction-related audit objective?
A)posting and summarization
B)classification
C)cutoff
D)completeness

Question

Quizplus · Accepted Answer

The control of using the shipping date as the invoice date relates to the cutoff audit objective, which ensures that transactions are recorded in the correct accounting period. By using the shipping date as the invoice date, the company is ensuring that the revenue and related expenses are recorded in the same accounting period.

Invoices Are Prepared Using a Date Equal to the Shipping