Substantive procedures to examine the cutoff assertion for accounts payable include:
A. selecting a sample of vouchers and agreeing them to authorized purchase orders.
B. selecting a sample of receiving reports around year-end and comparing dates on related vouchers to dates in the purchases journal.
C. selecting a sample of vouchers and agreeing them to the purchases journal.
D. recomputing the mathematical accuracy of a sample of vendor invoices.
Answer: B
You might also like to view...
Unionized workers tend to have lower job satisfaction than nonunionized workers primarily because:
A. They are dissatisfied with their union representation. B. They are working under harsher conditions and their workplace climate is less desirable. C. They are receiving fewer benefits such as workers compensation and unemployment insurance. D. They are more likely to be victims of discrimination than nonunionized workers.
Chattel paper is a record that evidences both a monetary obligation and a security interest in specific goods and software used in the goods
Indicate whether the statement is true or false
The cost of operations is a sunk cost
Indicate whether the statement is true or false.
The UCC modifies the common law rule by requiring additional consideration for the modification of a contract
a. True b. False Indicate whether the statement is true or false