The emphasis for the audit of sales return and allowances is often placed on testing the existence of recorded transactions.However,the most important objective to consider is
A)cutoff.
B)valuation.
C)accuracy.
D)completeness.

Question

Quizplus · Accepted Answer

The most important objective to consider in the audit of sales returns and allowances is completeness. This ensures that all returns and allowances that should have been recorded are indeed recorded, addressing the risk of understating expenses and liabilities.

The Emphasis for the Audit of Sales Return and Allowances