13) Which of the following controls would be the received from customers paying on their accounts?ng a A. A reconciliation of the trial balance of customers' most effective periodicalt B. Deposits of cash are made daily C. A senior accountant regularly reconciles the bank deposits to D. Monthly statements are sent to customers and any discrepancies r the independent of cash handling and accounting 14) The two most important balance related objectives for notes payable a A. Existence and classification B. Accuracy and existence C. Accuracy and completeness D. Existence and cut-off 15) Identify the audit objective satisf ng audit procedure:. Exarmine a samge by the following proc and see if each has proper credit authorization customer orders A. Completeness B. Occurrence c. Timing D. Classification ' Examine ) Which of the following statements about the sales and collection cycle n cycle is FALSE Tests of the realizable value balance related audit objective are the allowance for doubtful accounts Tests of detail tie-in are normally conducted last in the audit of the sa Auditing standards require the auditor to perform alternative pr confirmation requests are not returned from customers When analytical procedures in the sales and collection cycle uncover unusual auditor should make additional inquiries of management and additional required A. A. for the purposes 8. C. procedures when poste ocedures D. 17) Targaryen Corporation is auditing the bank reconciliation provided by Drogo & Compon client). Which of the following is most likely to be detected as part of the audit of he reconciliation? ny after year end, but included in cash receipts nte A. Cash received by Drogo & Compa current year Paying a fictitious employee Payment to an employee for more hours than she actual B. C. D. B ated by company policy ich of the following represents) a TRUE statement regarding bank onfimations l. Generally accepted auditing standards (GAAS) require auditors to obtain bankcants illing a customer at a lower price than indic for audits of non-public entities loans with due date, interest rate and collateral requested A. 1only B. Il only C. I and I D. Neither are true statements ll. Bank confirmations usually contain a request for information regardin al o i Page 4 of 10