fy types of errors that may cau

Q: Can you explain how the internal control of Documentation Procedure is violated in this question?…

A: The controls that are implemented to ensure the accountability and the integrity of the financial…

Q: What is data inconsistency? occurs when a system produces correct and consistent data the practice…

A: Solution- Data inconsistency is a situation where there are multiple tables within a database that…

Q: below presents the payroll procedures of XYZ Limited. We discussed various aspects of such payroll…

A: Payroll In a simple word payroll means the compensation which are provided by the companies to its…

Q: All the supporting documents such as PO, vendor's invoice are attached to the voucher" is one of the…

A: True, All the supporting documents such as PO, vendor's invoice are attached to the voucher" is one…

Q: Describe the differences between keeping a check stub record of checks written versus a check…

A: A check stub record is a part of a check that is kept for record-keeping purposes. When you write a…

Q: An effective revenue security system will help you accomplish the following important tasks: a)…

A: Revenue security refers to the procedure by which a company may match the total amount of sales with…

Q: For the purpose of internal control, the same person who prepares payroll checks should also…

A: The segregation of duties is a fundamental principle in internal control, and it is designed to…

Q: Internal control is enhanced by separating the control of a transaction from the record-keeping…

A: Internal control function is implemented in the organizations so that internal policies and…

Q: FireballCompany requires that all documents supporting a check (purchase order, invoice, and…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: What classes and associations would be included in a model that describes the information needed for…

A: Accounts receivable are the overdue payments owed to a firm by its customers or clients for products…

Q: how is the trial balance used to discover errors

A: A trial balance is an important accounting technique for ensuring the correctness of financial data…

Q: Which of the following would help prevent a payroll check from being processed for more hours than…

A: Hash Total:Explanation: A hash total is a type of control total used to ensure data integrity by…

Q: What alternative procedures should be applied to accounts that do not return confirmations?

A: Confirmation of accounts receivable:  When the auditor has examined the documents of the clients…

Q: which is true about vendor files? A. They must be cleaned on a daily basis B. They can be in…

A: A vendor file contain all information about the supplier and vendor from every department. It…

Q: An audit client has engaged a third-party service organization tohost its payroll software package…

A: Given: The engagement of the third-party for hosting the payroll software package.

Q: To gather audit evidence related to accounts receivable, the client should mail the confirmation…

A: Auditor: An auditor is a person or a group of people who is responsible for conducting an audit of…

Q: For each of the procedures in the table below, indicate the type of procedure being performed…

A: Audit procedures are precise activities, tasks, and methods used by auditors to investigate an…

Q: Describe the difference between keeping a check stub record of checks written versus a check…

A: References: https://www.sofi.com/learn/content/business-checks-vs-personal-checks/…

Q: an account should be referred to a professional collection agency if

A: an account should be referred to a professional collection agency in following case

Q: What functions can be performed by an automated payroll system?

A: In finance automated payroll system is that system which uses payroll software for the purpose of…