45) The auditor has a balance-related audit objective to determine that accounts receivable are appropriately aggregated, and related financial statement disclosures are relevant and understandable Which of the following audit procedures would the auditor not perform in connection with this audit objective? A) Trace receivables from related parties on the aged trial balance to proper disclosure in the footnotes to the financial statements B) Read footnote disclosures made by management related to accounts receivable C) Evaluate footnote disclosures made by management for related party receivables D) Use audit software to foot and cross-foot the aged accounts receivable trial balance 46) Which audit procedure would the auditor use to test for the cutoff balance-related audit objective? A) Review minutes of the board of directors' meetings B) Review the accounts receivable trial balance for large items C) Use audit software to foot and cross-foot the aged trial balance D) Select the last 20 sales transaction from the current year's sales journal and the first 20 from the subsequent year's and trace each to the related shipping documents 47) One of the causes of nonsampling risk is A) choosing the wrong sample size B) effective audit procedures C) inadequate sample size D) failure to recognize exceptions 48) tests are for omitted transactions, while tests are for nonexistent transactions A) Tracing; vouching B) Vouching, tracing C) Verifying; tracking D) Tracking; verifying 49) Which one of the following best describes the auditor's responsibilities regarding appropriate authorizations in the sales/collections cycle? A) Credit must be authorized before the sale B) Goods must be shipped after the authorization C) Prices must be authorized D) All of the above should be of concern to the auditor 50) Except for two key differences, the transaction-related audit objectives are essentially the same for the processing of credit memos as they are for sales. Which of the following are the two key differences? A) risk and emphasis on the completeness objective B) materiality and emphasis on the accuracy objective C) risk and emphasis on the classification objective Dj materiality and emphasis on the occurrence objective