MATCHING 2 pt each Match the letter of each term that corresponds with the explanations that follows I one answer each ) A Acceptable risk of assessing control risk too low B Accounts payable master file C Acquisition and payment cycle D Acquisitions journal E Contingent liability F Cutoff test G Impress payroll account H Inventory and warehousing cycle I Inventory compilation tests J Negative confirmation K Payroll and personnel cycle L Positive confirmation M Purchase order N Receiving report O Subsequent event P Vendor invoice 1 Bank account in which the exact amount of payroll for the pay period is transferred by check 2 Tests to determine whether transactions recorded a few days before and after the balance sheet 3 Computer file for maintaining a record for each vendor of individual acquisitions, cash 4 Letter addressed to the de 5 Document prepared by receiving department at the time tangible goods are received, indicating or wire transfer from the employer's general cash account date are included in the correct period disbursement amount of the stated account balance the description of the goods, the quantity received, date received, and other relevant data that have already taken place s, acquisition returns and allowances, and vendor balances btor, requesting a response only if the recipient disagrees with the 6 Potential future obligation to an outside party for an unknown amount resulting from activities MATCHING Appropriate action to take for discoveries after the date of the year under audit A Adjust financial statements B Disclose information in footnote C No action required 3 pt each D Request client to recall statements for revision 7 Debtor of client went bankrupt. Sale took place after the date of the audited financial statements. Audit report had not been mailed to client 8 Debtor of client went bankrupt. Sale took place during year under audit 9 Debtor of client went bankrupt. Sale took place during year under audit 10 Debtor of client went bankrupt. Sale took place during year under audit 11 Lawsuit was filed against client for an alleged action that occurred during the year under audit audit report had not been mailed to client audit report had been mailed to client debt appeared collectable at date of completion of audit. Audit report had not been issued legal counsel opinion is that significant danger exist of a cost to client audit report has not been issued