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3. Auditors are auditing the cash receipts for Great Wall Corporation. For each audit procedure performed (numbered 1-5 below) select the control objective (A-D) being
3. Auditors are auditing the cash receipts for Great Wall Corporation. For each audit procedure performed (numbered 1-5 below) select the control objective (A-D) being tested by placing the correct letter in the blank. (5 Points) A. Existence B. Completeness C. Proper period D. Accounting and posting E. Accuracy _____ 1. For a sample of recorded cash receipts, the auditors compared the date of receipt to the recording date. _____ 2. The auditors traced a sample of daily cash reports to the cash receipts journal. _____ 3 The auditors vouched a sample of recorded cash receipts to the deposits in the bank statement. ______4. The auditors recalculate the cash listed on the daily deposit for a sample of recorded cash receipts. ______5. The auditors traced a sample of recorded cash receipts to postings in the correct customers accounts
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