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Below are audit procedures from different transaction cycles. Requirements a . For each audi procedure, identfy whether it is a test of control or a
Below are audit procedures from different transaction cycles. Requirements a For each audi procedure, identfy whether it is a test of control or a substantive test of transactions. b For each audit procedure, identify the transactionrolated audit objective or objectives being satisfied. Requirement a For each audit procedure, identify whether it is a test of control or a substantive test of transactions. Test of control or Substantive Audit Procedures test of transactions Trace a sample of shipping documents to entry in the sales journal. Examine a sample of warehouse removal slips for signature of authorized official. Examine contract terms for large and unusual sales transactions to determine whother management has included adequate and understandable disclosures of those transactions in the footnotes to the financial statements. Examine duplicate copy of shipping documents for evidence that quantities were verified before shipment. Select a sample of payroll payments processed and agree hours to employee time records. Use audit soffware to foot and crossfoot the sales journal and trace the balance to the general ledger. Exarnine voucher packages and related vendor invoices for evidence of approval of account classification. Select a sample of sales involces and agree prices to the approved price list. Select a sample of entries in the cash receipts journal and trace to posting in individual customer accounts recelvabie records. plzz solved...
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