Which of the following tests of controls is useful to test the transaction-related audit objective of posting and summarization?
A) Observe whether monthly statements are sent.
B) Observe unrecorded cash at a point in time.
C) Observe whether the accountant reconciles the bank account.
D) Observe endorsement of incoming checks.
Correct Answer:
Verified
Q114: An audit procedure that compares the name,
Q115: Which of the following would offer the
Q116: It is not important that the auditor
Q117: When auditing sales returns and allowances, tests
Q118: The audit procedure referred to as proof
Q120: Explain what lapping means, and discuss the
Q121: The most difficult type of cash embezzlement
Q122: There should generally be correspondence in the
Q123: The auditor's primary concern in performing audit
Q124: You are part of the audit team
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents