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Audit Objective: All revenues recorded by the company actually occurred & is appropriate to recognize in the current year. What could go wrong: A sales

Audit Objective:All revenues recorded by the company actually occurred & is appropriate to recognize in the current year.

What could go wrong:A sales contract was recognized in the current year, but the criteria for revenue recognition were not met until the following year.

Multiple Choice

Valuation
Completeness
Presentation
Existence/Occurrence
Ownership

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