10 47) When auditing the revenue and collection cycle, auditors normally select balances to confirm from the a) Sales journal b) Accounts receivable listing c) General Ledger d) Cash receipts listing 48) Which of the following accounts does not appear in the acquisition and expenditure cycle? a) Cash b) Purchases returns Sales returns d) Prepaid insurance 49) An auditor reviews job cost sheets to test which transaction assertion? Accuracy b) Occurrence 50) Users of financial statements have a different perception concerning the nature of auditors' services than the actual objectives of an audit. This difference is known as a) Diverse liability perception b) Reasonable foreseeable third parties c) Insurance hypothesis d) Expectations gap c) Completeness d) Classification