Jane's employer purchased a new calculator this month.When Jane added up the sales for the day,she was a bit confused with the new calculator and made numerous adding errors.The daily sales total for the next week were incorrectly posted to the general ledger.The general balance-related audit objective affected by this activity is
A)cutoff.
B)accuracy (of allocation).
C)classification.
D)existence.

Question

Quizplus · Accepted Answer

The adding errors made by Jane with the new calculator resulted in incorrect daily sales totals, which would affect the accuracy (of allocation) objective. The amounts wrongly entered into the general ledger may have been allocated to the incorrect accounts, causing discrepancies in the financial statements.

Jane's Employer Purchased a New Calculator This Month