Question
13.When verifying the correct balance in accounts payable, vendors' invoices are more useful than vendors' statements. 14.The internal control Adequate segregation of duties between accounts
13.When verifying the correct balance in accounts payable, vendors' invoices are more useful than vendors' statements.
14.The internal control "Adequate segregation of duties between accounts payable and custody of signed checks" relates most closely to the existence objective for cash disbursements.
15. The audit procedure "Recompute hours worked from time cards" is normally performed when testing the completeness objective for payroll.
16. When examining payroll transactions, an auditor is primarily concerned with the possibility of overpayments and unauthorized payments.
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