Accounting Information Systems
10th Edition
ISBN: 9781337619202
Author: Hall, James A.
Publisher: Cengage Learning,
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Chapter 4, Problem 6DQ
To determine
Explain the tasks that the
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To gather audit evidence related to accounts receivable, the client should mail the confirmation requests.
TRUE OR FALSE? WHY?
Which internal control principle prescribes the use of pre-
numbered printed checks?
Multiple Choice
O
Perform regular and independent
reviews.
Establish responsibilities.
Technological controls.
Maintain adequate records.
Divide responsibility for related
transactions.
Using prenumbered checks and having an approved invoice for each check is an example of
Select one:
a. establishment of responsibility.
b. independent internal verification
C. segregation of duties.
d. documentation procedures.
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Chapter 4 Solutions
Accounting Information Systems
Ch. 4 - Prob. 1RQCh. 4 - Prob. 2RQCh. 4 - What function does the receiving department serve...Ch. 4 - Prob. 4RQCh. 4 - Prob. 5RQCh. 4 - Prob. 6RQCh. 4 - Prob. 7RQCh. 4 - Prob. 8RQCh. 4 - Prob. 9RQCh. 4 - Distinguish between an edit run, a sort run, and...
Ch. 4 - Prob. 11RQCh. 4 - Prob. 12RQCh. 4 - Prob. 13RQCh. 4 - Prob. 14RQCh. 4 - Prob. 15RQCh. 4 - Prob. 16RQCh. 4 - In a manual system, after which event in the sales...Ch. 4 - Prob. 18RQCh. 4 - What document initiates the billing process?Ch. 4 - Prob. 20RQCh. 4 - Prob. 1DQCh. 4 - Prob. 2DQCh. 4 - Prob. 3DQCh. 4 - Prob. 4DQCh. 4 - Prob. 5DQCh. 4 - Prob. 6DQCh. 4 - Prob. 7DQCh. 4 - Prob. 8DQCh. 4 - What financial statement misrepresentations may...Ch. 4 - Prob. 10DQCh. 4 - Prob. 11DQCh. 4 - Prob. 12DQCh. 4 - Prob. 13DQCh. 4 - Prob. 14DQCh. 4 - Prob. 15DQCh. 4 - How is EDI more than technology? What unique...Ch. 4 - Prob. 17DQCh. 4 - Prob. 1MCQCh. 4 - Prob. 2MCQCh. 4 - Prob. 3MCQCh. 4 - Prob. 4MCQCh. 4 - Prob. 5MCQCh. 4 - Prob. 6MCQCh. 4 - Prob. 7MCQCh. 4 - Prob. 8MCQCh. 4 - Prob. 9MCQCh. 4 - Prob. 10MCQCh. 4 - Prob. 1PCh. 4 - Prob. 2PCh. 4 - Prob. 3PCh. 4 - Prob. 4PCh. 4 - Prob. 5PCh. 4 - Prob. 6PCh. 4 - Prob. 7PCh. 4 - Prob. 8PCh. 4 - Prob. 9PCh. 4 - Prob. 10PCh. 4 - Prob. 11PCh. 4 - Prob. 12PCh. 4 - In 1989, Robert Smith opened a small fruit and...Ch. 4 - Posavek is a wholesale supplier of building...Ch. 4 - Prob. 3ICCCh. 4 - (Prepared by Will Richens and Michael Catchpole,...Ch. 4 - Prob. 6ICC
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- What tools do auditors use to verify the ending balances in the various accounts in the acquisition and payments cycle? Please provide reference(s).arrow_forwardWhat is the purpose of the following control procedures (i.e., what threats is it designed to mitigate)? h. Encryption of payroll data both when it is electronically sent to a payroll service bureau and while at rest in the HR/payroll database.arrow_forwardWhich of the following procedures would provide the most reliable audit evidence?a. Inquiries of the client’s internal audit staff.b. Inspection of prenumbered client purchase orders filed in the vouchers payable department.c. Inspection of vendor sales invoices received from client personnel.d. Inspection of bank statements obtained directly from the client’s financial institution.arrow_forward
- Internal controls do each of the following except: A. Evaluate performance of employees B. Guarantee the accuracy if account records C. Protect assets D. Increase the likelihood that any errors will be caughtarrow_forwardWhen was the Muscat Clearance and Depository Company (MCDC) established and what are the most important functions it does?arrow_forwardFinancial audit Q&A What is the file type of the customer confirmation that is related to the outstanding balance the client has?arrow_forward
- Question7 An auditor is performing verifications to determine whether all purchases of the client for which the client was billed was received. The population for this examination consists of all O Inventories received O Supplier's invoice O Paid checks O Receiving reportsarrow_forwardWhich of the following is an internal control activity that could prevent a paid disbursement voucher from being presented for payment a second time?a. Vouchers should be prepared by individuals who are responsible for signing disbursement checks.b. Disbursement vouchers should be approved by at least two responsible management officials.c. The date on a disbursement voucher should be within a few days of the date the voucher is presented for payment.d. The official who signs the check should compare the check with the voucher and should stamp “PAID” on the voucher documents.arrow_forwardWhich of the following IT controls would a company appropriately use to mitigate the risk of unauthorized access to its payroll data? a. Validity checks b. Biometric devices c. A neural network d. Employee purchase cardsarrow_forward
- All pre-numbered time cards are accounted for before beginning data entry for preparation of checks. Question: What Misstatement that is likely to be prevented if the control exists and is effective?arrow_forwardWhat audit procedures are most likely to be used to verify accountsreceivable written off as uncollectible? State the purpose of each of these procedures.arrow_forwardWhat are the goals of a fraud audit for internal auditors? Explain briefly.arrow_forward
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