TRẮC NO KIỂM 1

What critical event must take place before goods can be shipped in order to assure payment can be reasonably expected?

• A) determination of correct delivery address
• B) credit approval
• C) matching of shipping document with sales invoice
• D) receipt of sales order from the customer

2. Which of the following is not an important aspect of billing?

• A) All shipments made have been billed.
• B) No shipment has been billed more than once.
• C) Each customer is billed for the proper amount.
• D) Credit is approved to customers for sales on account.

3. In the accounts receivable master file, the length of time the account has been due can be useful to the client and the auditor in preparing the

• A) trial balance.
• B) working trial balance.
• C) accounts receivable trial balance.
• D) aged accounts receivable trial balance.

4. A is a list prepared when cash is received by someone who has no responsibility for recording sales, accounts receivable, or cash, and who has no access to the accounting records.

• A) prelisting of cash receipts.
• B) sales invoice.
• C) packing ticket.
• D) vendor invoice.

5. Which of the following is a correct statement regarding the shipment of goods?

• A) The shipping document must be in paper form.
• B) The shipping document is used to update the perpetual inventory records.
• C) Only one copy of the shipping document is needed.
• D) All of the above are correct statements.

6. When sales invoices are automatically calculated and posted by a computer, the auditor may be able to reduce substantive tests of transactions for which, if any, assertion? accuracy

• accuracy
• B) existence
• C) completeness
• D) none of the above

7. Which of the following is an accurate statement relating to separation of duties?

• A) Management should deny cash access to anyone responsible for entering sales and cash receipts transaction information into the computer.
• B) All disagreements on the monthly statements should be directed to a designated person who has no responsibility for handling cash or recording sales or accounts receivable.
• C) The credit granting function should be separate from the sales function.
• D.All of the above are accurate statements.

8. An effective procedure to test for unfilled shipments is to trace from the

• A) sales journal to the shipping documents.
• B) shipping documents to the sales journal.
• C) sales journal to the accounts receivable ledger.
• D) sales journal to the general ledger sales account.

10. Which type of misstatement is always a fraud?

• A) sales included in the journals for which no shipment was made
• B) sales to related parties, such as officers and subsidiaries
• C) shipments made to nonexistent customers and recorded as sales
• D) sales recorded more than once.

11. Which of the following would least concern an auditor regarding the lack of a specific authorization to conduct the sales transaction?

• A) granting of credit
• B) shipment of goods
• C) determination of discounts
• D) selling of goods for cash