audit 8
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| show | A record of vendors that have been vetted to ensure that vendors meet company policy and procedure in terms of price, quality, delivery, etc. This control activity provides evidence to auditors of vendors existence
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| bill of lading | show 🗑
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| show | The recording of expenidutres as assets and charging them to expense by a systematic allocation over a number of years
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| clearing accounts | show 🗑
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| show | The transfer of data between /among different companies using networks such as the internet.
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| ghost employees | show 🗑
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| show | An account used for special purposes such as payroll or branch banking that is maintained at a zero or fixed balance in the general ledger. Checks witten on the account are offset by deposits of the same amount
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| matching | show 🗑
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| show | A formal contractual document (may be a computer document) between a buyer and seller issued by the buyer establishing price, delivery point, delivery dates , and other information pertinent to the purchase
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| purchase requisition | show 🗑
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| show | The documentation completed by the receiving department that includes receiving date and time, purchase order umber, condition of material received ,and amount of material received; provides evidence regarding the receipt of materials by the entity
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| show | A substantive procedure to test the completeness assertion for liability accounts.
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| show | The tests of a sample of transactions during the period for monetary errors
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| show | A bill sent from the vendor to the entity purchasing hte goods or services
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| show | A document used as a source for recording payables. It shows approvals, accounts, and amounts to be recorded ussually attached tohe supporting purchase order, receiving report, and vendor invoice
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| show | The annual report of gross salaries and wages and the income, Social Secirity, and Medicare taxes withheld.
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| Which of the following accounts does not appear in the acquisition and expenditure cycle? | show 🗑
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| For which of the following accounts would the matching concept be the most appropriate? | show 🗑
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| Which of the following would not overstate current period net income? | show 🗑
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| A client's purchasing system ends with the recording of a liability and its eventual payments. Which of hte following best describes auditors' primary concern with respect to liabilities resulting from the purchasing system? | show 🗑
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| Which of the following is an internal control activity that could prevent a paid disbursement voucher from being presented for payment a second time? | show 🗑
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| Budd, the purchasing agent of Lake Hardware whosalers. Arranged for cash ton delivery basis. Budd was probablly able to accomplish this because of Lake's poor internal control over. | show 🗑
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| show | Examine a sample of cash disbursements in the period subsequent to year end
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| Which of the following procedures is least likely to be performed before the balance sheet date? | show 🗑
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| To determine whether accounts payable are complete. auditors perform a test to verify that all merchandise received has been recorded. The population for this test consists of all | show 🗑
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| show | Invoices
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| Orderd 84 tbales, only half were received. Which of the following controls would have been least likely to have prevented this erroneous payment? | show 🗑
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| show | Refusal by the purchasing department to approve the vendor.
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| An audit team would most likely examine the detail support for changes to which of the following accounts? | show 🗑
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| Which of the following accounts would most likely be audited in connection with a related balance sheet account? | show 🗑
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| When auditing account balances of liabilities, auditors are most concerned with management's assertion about | show 🗑
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| In a test of controls, auditors may trace receiving reports to vouchers recorded in the voucher register. This is a test of. | show 🗑
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