Auditors are auditing the cash receipts for Great Wall Corporation. For each audit procedure performed (numbered 1 - 5 below) select the control objective being tested by placing the correct letter in the blank. A. Existence B. Completeness C. Authorization D. Accuracy E. Classification F. Accounting and posting G. Proper period _______ 1. For a sample of recorded cash receipts, the auditors compared the date of receipt to the recording date. _______ 2. The auditors traced a sample of daily cash reports to the cash receipts journal. _______ 3. The auditors vouched a sample of recorded cash receipts to the deposits in the bank statement. _______ 4. The auditors recalculate the cash listed on the daily deposit for a sample of recorded cash receipts. _______ 5. The auditors traced a sample of recorded cash receipts to postings in the correct customers' accounts.
Auditors are auditing the cash receipts for Great Wall Corporation. For each
performed (numbered 1 - 5 below) select the control objective being tested by placing the correct
letter in the blank.
A. Existence
B. Completeness
C. Authorization
D. Accuracy
E. Classification
F. Accounting and posting
G. Proper period
_______ 1. For a sample of recorded cash receipts, the auditors compared the date of
receipt to the recording date.
_______ 2. The auditors traced a sample of daily cash reports to the cash receipts journal.
_______ 3. The auditors vouched a sample of recorded cash receipts to the deposits in the
bank statement.
_______ 4. The auditors recalculate the cash listed on the daily deposit for a sample of
recorded cash receipts.
_______ 5. The auditors traced a sample of recorded cash receipts to postings in the
correct customers' accounts.
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