1) Give two(2) specific example of an internal control a company should be using to control its sales and receivable transactions.

2) What effect do incomplete accounts payable have on the Balance Sheet? What effect do incomplete accounts payable have on the Income Statement?

3) Describe the two types of sampling risk. Be specific.

4) Write a specific audit procedure for Test of Controls to test the COMPLETENESS OBJECTIVE for purchases. This is a control test, NOT a substantive test.

5) Andrea is auditing the client's accounts receivable, but she could not get any good information about customer#585 - Brett's Supply House's balance. The customer responded to the positive confirmation saying, "Our system does not provide detail for us to provide a response." What should Andrea do next?

6) In the audit of accounts payable, the main emphasis should be on which management assertion?Why?