Drag each label to the correct location on the image. Match the activities with the relevant accounting principles. a document backs a transaction a practice eliminates the bias of the accountant an auditor approves the authenticity of a transaction a company maintains the same accounting practices across accounting periods Objectivity Consistency Reset Next

{Auditing} 19. Choose the statement/s, which explains the concept of true and fair view. a. All the options b. Accuracy in the accounting transaction and records c. Financial statements are free from material misstatement d. Presentation of financial statements according to accounting standards framework

An audit trail is a step-by-step record by which accounting data can be traced to its source. Therefore, Vouching is used primarily to test which of the following assertions about classes of transaction?  Select one: a.Accuracy.  b.Completeness. c. Cut-off d. Occurrence

3.Ledger or posting contributes to the recording process because it discloses the complete effect of a transaction, provides a chronological record of transactions, and helps to prevent or locate errors because the debit and credit amounts can be readily compared true false 4.Although primary users of Financial Accounting information are the external users and for Managerial Accounting are the internal users; both branches of accounting need to be audited by CPAS true false 5. Posting helps to transfer the journal entries to ledger accounts which are comprised of the entire group of accounts maintained by a company. True False

1. Please answer ASAP!!

An audit trail enables a person to trace a source document to its ultimate effect on the financial statements or work back from amounts in the financial statements to source documents. Describe in detail the audit trail for the following: a. Purchases of inventoryb. Sales of inventoryc. Employee payroll

Please choose the best answer. Thanks!

2.Once the auditor has gained a preliminary understanding of an entity’s accounting subsystem, they need to document that understanding, or obtain relevant documents from the client and check their understanding against those documents. The two primary forms of documentation used are: (i) narrative descriptions, and (ii) pie charts (True or False?).A. TrueB. False

Which of the following is an example of "other information" that could be used by an auditor as evidential matter supporting the financial statements?     Worksheets supporting cost allocations. Accounting manuals. Special journals. Confirmation of accounts receivable.

A system that traces the detailed transactions relating to any item in an accounting record could be define as an audit trail. Therefore, Tracing is used primarily to test which of the following assertions about classes of transactions?  Select one: a. Valuation and Allocation.  b. Accuracy.  c. Existence.  d. Completeness