Lake of Fire Company purchased supplies costing $7,000 and debited Supplies for the full amount. At the end of the accounting period, a physical count of supplies revealed $2,400still on hand. The appropriate adjusting journal entry to be made at the end of the period would be

The control activities include A. Designed for multiple use O B. Estimate the significance of the risk O C. Constructed to encourage correct preparation O D. Independent checks on performance the auditor can understand the internal control by Observation of employees. the Observation of employees through: O A. Evaluate your employee based on objective criteria, O B. subjective criteria involving personality. O C. subjective assessments that come from his coworkers and customers. Previous page Next page Classification: Existing sales transactions are recorded Select one: : True False Classification: Existing sales transactions are recorded Select one: True False Classification: Existing sales transactions are recorded Select one: True False Classification: Existing sales transactions are recorded Select one: : True False documents and records should be Pre-numbered consecutively to control over missing documents O A. false O B. true step 8 of the plan sample is to Determine the initial sample size. Select one: True False