Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services. Requirement 1 To ascertain: List out the relevant substantive analytical procedures in the revenue cycle and explain how these procedures are related to management assertions.

Question

Which of the following tests is directed towards the management assertion of completeness of sales? Question 19 options: 1) Checking mathematical accuracy of invoices. 2) Vouching sales recorded to invoices held. 3) Tracing delivery documents to invoices and sales recorded. 4) Vouching invoices to delivery documents. Next Page

Answer 1

Question

Chapter 9, Problem 61RSCQ

To determine

Introduction:

Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services.

Requirement 1

To ascertain:

List out the relevant substantive analytical procedures in the revenue cycle and explain how these procedures are related to management assertions.

To determine

Introduction:

Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services.

Requirement 2

To ascertain:

For the given procedures from 1 to 6, indicate the testing of the assertion.

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Which of the following tests is directed towards the management assertion of completeness of sales? Question 19 options: 1) Checking mathematical accuracy of invoices. 2) Vouching sales recorded to invoices held. 3) Tracing delivery documents to invoices and sales recorded. 4) Vouching invoices to delivery documents. Next Page

Revenue Cycle. Discuss how the nature of the necessary internal control features is affected by switching from a manual system to a large-scale computer-based accounting system. а.

1. Which of the following is an example of an input control in the expenditure cycle? a. Physical controls over inventory b. Reconciling the bank statement c. Document sequencing d. Access controls over the purchasing system 2. A control procedure that helps prevent duplicate payments is: a. Performing physical inventory counts b. Matching purchase orders, receiving reports, and vendor invoices c. Reconciling bank statements d. Conducting vendor audits 3.Which of the following is an example of an independent verification control in the expenditure cycle? a. Document sequencing b. Reconciling the bank statement c. Segregation of duties d. Physical controls over inventory

Answer 2

Question

Chapter 9, Problem 61RSCQ

To determine

Introduction:

Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services.

Requirement 1

To ascertain:

List out the relevant substantive analytical procedures in the revenue cycle and explain how these procedures are related to management assertions.

To determine

Introduction:

Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services.

Requirement 2

To ascertain:

For the given procedures from 1 to 6, indicate the testing of the assertion.

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Answer 3

Question

Chapter 9, Problem 61RSCQ

To determine

Introduction:

Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services.

Requirement 1

To ascertain:

List out the relevant substantive analytical procedures in the revenue cycle and explain how these procedures are related to management assertions.

To determine

Introduction:

Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services.

Requirement 2

To ascertain:

For the given procedures from 1 to 6, indicate the testing of the assertion.

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Answer 4

Question

Chapter 9, Problem 61RSCQ

To determine

Introduction:

Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services.

Requirement 1

To ascertain:

List out the relevant substantive analytical procedures in the revenue cycle and explain how these procedures are related to management assertions.

To determine

Introduction:

Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services.

Requirement 2

To ascertain:

For the given procedures from 1 to 6, indicate the testing of the assertion.

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Answer 5

Chapter 9, Problem 61RSCQ

To determine

Introduction:

Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services.

Requirement 1

To ascertain:

List out the relevant substantive analytical procedures in the revenue cycle and explain how these procedures are related to management assertions.

To determine

Introduction:

Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services.

Requirement 2

To ascertain:

For the given procedures from 1 to 6, indicate the testing of the assertion.

Answer 6

Chapter 9, Problem 61RSCQ

To determine

Introduction:

Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services.

Requirement 1

To ascertain:

List out the relevant substantive analytical procedures in the revenue cycle and explain how these procedures are related to management assertions.

Answer 7

Chapter 9, Problem 61RSCQ

To determine

Introduction:

Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services.

Requirement 1

To ascertain:

List out the relevant substantive analytical procedures in the revenue cycle and explain how these procedures are related to management assertions.

Answer 8

To determine

Introduction:

Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services.

Requirement 2

To ascertain:

For the given procedures from 1 to 6, indicate the testing of the assertion.

Answer 9

To determine

Introduction:

Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services.

Requirement 2

To ascertain:

For the given procedures from 1 to 6, indicate the testing of the assertion.

Answer 10

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Answer 21

Ch. 9 - Prob. 1TFQ Ch. 9 - Prob. 2TFQ Ch. 9 - Prob. 3TFQ Ch. 9 - Prob. 4TFQ Ch. 9 - Prob. 5TFQ Ch. 9 - Prob. 6TFQ Ch. 9 - Prob. 7TFQ Ch. 9 - Prob. 8TFQ Ch. 9 - Prob. 9TFQ Ch. 9 - Prob. 10TFQ

Solution Summary: The author explains that revenue cycle is a process or an activity that starts from making of goods or services and ends with receipt of cash for making sales.

Introduction:

Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services.

Requirement 2

To ascertain:

For the given procedures from 1 to 6, indicate the testing of the assertion.

Chapter 9 Solutions

Solution Summary: The author explains that revenue cycle is a process or an activity that starts from making of goods or services and ends with receipt of cash for making sales.

Introduction: Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services. Requirement 2 To ascertain: For the given procedures from 1 to 6, indicate the testing of the assertion.

Chapter 9 Solutions

Introduction:

Revenue cycle is a process or an activity of a company that starts from making of the goods or services and ends with receipt of cash for making sales of goods or services.

Requirement 2

To ascertain:

For the given procedures from 1 to 6, indicate the testing of the assertion.