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

Please choose the best answer. Thanks!

1. CPAs may audit around or through computers in the examination of financial statements of client who utilize computer to process accounting data. Required: a. Describe the auditing approach referred to as auditing around the computer. b. Under what condition does the CPA decide to audit through the computer instead of around the computer?

CHARACTERISTICS OF USEFUL INFORMATION All records in a file must be uniquely identifiable in at least one attribute, which is its primary key.Drawing on your general knowledge of accounting,identify the primary key for the following types ofaccounting records. To illustrate, the first record isdone for you.

Professional guidance indicates that the auditor should consider revenue recognition to be high risk in planning an audit of a company’s financial statements. a. Identify the activities that affect the revenue cycle. b. Identify the financial statement accounts typically associated with the revenue cycle.

Which area of accounting needs a computerized accounting information system the most—payroll, tax, or preparing financial statements?

Please answer with reason for all why the option is correct and why the other options are incorrect

All records in a file must be uniquely identifiable in at least one attribute, which is its primary key. Drawing on your general knowledge of accounting, identify the primary key for the following types of accounting records. To illustrate, the first record is done for you.Record Type                                                                 Primary KeyAccounts Receivable                                                  Customer Number Accounts Payable  Inventory Customer Sales Orders Purchase Orders to vendors Cash Receipts (checks) from customers Cash Disbursements (checks) to vendors Employee Payroll Earnings records

1) Why is it not necessary to model activities such as data entry of information about customers or suppliers, mailing invoices to customers, and recording invoices received from suppliers as events in an REA diagram? 2) How can REA diagrams help an auditor understand a client’s business processes? 3) How would accounts payable be reflected in an REA diagram?  Why?

Choose the correct option for this one