Accounts directly related to the revenue cycle include: a. Purchasing b. Guaranty c. Depreciation d. Cost of goods sold QUESTION 7 Undervaluing existing assets is an example of a fraud risk. True False Capitalized assets should not be expensed as repairs and maintenance. True False In testing of controls to determine that cash receipts are appropriately recorded, a key test that must be performed by the auditor is to perform a walkthrough to understand the cash payment process. True False