You are part of the audit team that is auditing Hillsburg Hardware Co. and you have been assigned to the sales and collection business process. You are testing whether the cash received has been recorded in the cash receipts journal. (completeness objective/assertion) List two tests of controls and at least one test of transactions that you would do to satisfy yourself regarding the completeness assertion.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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You are part of the audit team that is auditing Hillsburg Hardware Co. and you have been assigned to the
sales and collection business process. You are testing whether the cash received has been recorded in the
cash receipts journal. (completeness objective/assertion). List two tests of controls and at least one test
of transactions that you would do to satisfy yourself regarding the completeness assertion.
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Transcribed Image Text:You are part of the audit team that is auditing Hillsburg Hardware Co. and you have been assigned to the sales and collection business process. You are testing whether the cash received has been recorded in the cash receipts journal. (completeness objective/assertion). List two tests of controls and at least one test of transactions that you would do to satisfy yourself regarding the completeness assertion. attachments
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