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Question 1: (C1&C2&C3) Read the following statements carefully: Compute and Compare Gross profit rate for the current year and preceding year. Vouch sales journal entries
Question 1: (C1&C2&C3)
Read the following statements carefully:
- Compute and Compare Gross profit rate for the current year and preceding year.
- Vouch sales journal entries to sales invoices.
- Recalculate the allowance of Accounts receivables.
- Confirm customers balances.
- Compare inventory turnover with industry data.
- Reconcile bank accounts at year end.
- Trace sales invoices to account receivable ledger.
- Count Inventory quantities include all products, materials, and supplies on hand.
Instructions:- Indicate the type of Substantive Test for each statement.
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