KIỂM 1-CHAPP 14

KIỂM 1-CHAPP 14

University

43 Qs

quiz-placeholder

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KIỂM 1-CHAPP 14

KIỂM 1-CHAPP 14

Assessment

Quiz

Mathematics

University

Medium

Created by

Diễm Đỗ

Used 12+ times

FREE Resource

43 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1. The overall objective in the audit of the sales and collection cycle is to evaluate whether the account balances affected by the cycle are fairly presented in accordance with accounting standards.


True


False


2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

2. A ________ indicates a reduction in the amount due from a customer because of returned goods or an allowance.

A) bill of lading


B) sales invoice

C) credit memo


D) monthly statement


3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

3. The accurate recording of sales transactions concerns all of the following except for


A) proper credit authorization.


B) shipping the amount of goods ordered.


C) accurately billing for the amount of goods shipped.

D) accurately recording the amount billed in the accounting records.


4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

4. The most significant effect of the results of the tests of controls and substantive tests of transactions in the sales and collection cycle is on


A) bad debt expense.


B) the analytical tests to be performed.


C) the confirmation of accounts receivable.

D) the impact of processing cash receipts.


5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

5. In many audits, no substantive tests of transactions are made for the ________ assertion on the grounds that understatement of sales is not a concern.


A) accuracy


B) existence


C) completeness


D) none of the above


6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

 6. A ________ is a document for communicating the description, quantity, and related information for goods ordered by a customer.


A) sales order


B) customer order


C) vendor invoice


D) sales invoice


7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

7. An audit procedure that compares the name, amount, and dates shown on remittance advices with cash receipts journal entries and with related duplicate deposit slips would be effective in detecting


A) kiting.


B) lapping.

C) unauthorized write-offs of customers as uncollectible accounts.


D) sales without proper credit authorization.


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