The auditor is determining that the correct selling price was used for billing and that the...
Question:
The auditor is determining that the correct selling price was used for billing and that the quantity of goods shipped was the same as the quantity billed. She is gathering evidence about which transaction-related audit objective?
A) Accuracy.
B) Existence.
C) Completeness.
D) Cut-off.
Audit objective:
The audit objective is to prove that financial reports are free from material errors. The financial reports reflect an accurate and fair picture and are prepared in compliance with accounting principles.
Answer and Explanation: 1
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View this answerThe correct option is a
Accuracy is a transaction-related audit objective. Here auditor uses a bill to verify the correct selling price, which means...
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Internal Audit Control | Definition, Types & Objectives
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Chapter 3 / Lesson 2
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Examine internal audit control and its components. Define internal audit control, study control objectives, and identify the various types of internal controls.
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