Q1. Reconciliation of the bank account should not be performed by a person who also processes cash disbursements.

A. True B. False

Q4. To determine that all sales have been recorded, the auditors would select a sample of transactions from the:

A. Shipping Department Files C. Receiving Department Files

B. Accounts Receivable Ledger D. Sales Journal

Q6. Which of the following is NOT among the criteria that ordinarily exist for revenue to be recognized?

A. Persuasive evidence of an arrangement exists

B. Collectability is reasonably assured

C. The sellers price to the buyer is fixed or determinable

D. Delivery is scheduled to occur at some point in the future