Distinguish between internal documentation and external documentation as types of audit evidence. Give two examples of each. Which type is considered more reliable?
Internal documentation involves the auditor's examination of documents that have been prepared and used within the client's organization and are retained without ever going to an outside party. Examples would include duplicate sales invoices, employees' time reports, and inventory receiving reports.
External documentation involves the auditor's examination of documents that have been in the hands of someone outside the client's organization. Examples include vendors' invoices, cancelled checks, cancelled notes payable, and insurance policies.
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A known obligation of an uncertain amount that can be reasonably estimated is reported as an estimated liability.
Answer the following statement true (T) or false (F)
The subject line of an email message should do all of the following, EXCEPT
a. warn the recipient of the message of the bad news. b. allow the recipient to prioritize the message. c. expedite understanding of the message. d. provide a point of reference for future use.
What criteria may be employed to determine the viable position for a brand in the market?
What will be an ideal response?
Assuming that it meets the tests of ingenuity, utility, and novelty, which of the following inventions could be patented in Canada?
A) The Ford Motor Company's five year plan B) This textbook C) A device designed to read a bank machine card and transfer funds from the account without the transaction being recorded on the cardholder's account D) The theory of general relativity E) None of the above