Question
14. The auditors internal control objective to determine that recorded acquisitions are for goods actually received is to satisfy the audit objective of completeness of
14. The auditors internal control objective to determine that recorded acquisitions are for goods actually received is to satisfy the audit objective of completeness of recorded assets. T F
15. If a clients inventory is counted the day before the yearend date, the auditor must usually ensure that goods shipped the next day (that is, on the yearend date) are deducted from both inventory and accounts payable. T F
16. To gather audit evidence about the cash balance per bank as reflected in a clients bank reconciliation, an auditor would rely upon a copy of the clients statement from its bank. T F
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