Auditing And Assurance Services
Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
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Chapter 20, Problem 11RQ
To determine

Enlist the five types of authorizations in payroll and personnel cycle and the type of misstatement that is likely to occur when the authorization is lacking.

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Ravon Traders began the accounting period with $49,200 of merchandise, and the net cost of purchases was $238,500. A physical inventory count showed $61,700 of merchandise unsold at the end of the period. The cost of goods sold of Ravon Traders for the period is?
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