For each of the tests of controls for sales and receivables,indicate the assertion that is supported by placing the correct letter in the blank.
_____A. Scan sales invoices for missing numbers in sequence. 1. Accuracy
______B. Perform arithmetic recalculation of a sample of 2. Completeness recorded sales invoices.
______C. For a sample of recorded sales, determine whether 3. Oecurrence credit was approved.
_______D. Trace a sample of credit memos to postings in 4. Completeness customers' accounts.
_______E. Select a sample of customer accounts and vouch 5. Accuracy debits to sales invoices.

Question

For each of the tests of controls for sales and receivables,indicate the assertion that is supported by placing the correct letter in the blank. 
_____A. Scan sales invoices for missing numbers in sequence.       1. Accuracy
______B. Perform arithmetic recalculation of a sample of                 2. Completeness recorded sales invoices.
______C. For a sample of recorded sales, determine whether           3. Oecurrence credit was approved.
_______D. Trace a sample of credit memos to postings in                  4. Completeness customers' accounts.
_______E. Select a sample of customer accounts and vouch                5. Accuracy debits to sales invoices.

Quizplus · Accepted Answer

The Answer of For each of the tests of controls for sales and receivables,indicate the assertion that is supported by placing the correct letter in the blank. 
_____A. Scan sales invoices for missing numbers in sequence.       1. Accuracy
______B. Perform arithmetic recalculation of a sample of                 2. Completeness recorded sales invoices.
______C. For a sample of recorded sales, determine whether           3. Oecurrence credit was approved.
_______D. Trace a sample of credit memos to postings in                  4. Completeness customers' accounts.
_______E. Select a sample of customer accounts and vouch                5. Accuracy debits to sales invoices.

For Each of the Tests of Controls for Sales and Receivables,indicate