{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T07:45:56-04:00", "answer_date": "2024-06-28 07:45:56", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4265807", "url": "\/study-help\/questions\/question-3-10-marks-28-minutes-you-are-talking-4265807", "question_creation_date_js": "2024-06-28T07:45:56-04:00", "question_creation_date": "Jun 28, 2024 07:45 AM", "meta_title": "[Solved] Question 3 (10 marks - 28 minutes) You ar | SolutionInn", "meta_description": "Answer of - Question 3 (10 marks - 28 minutes) You are talking to a friend who works as a sales supervisor of a retail store that | SolutionInn", "meta_keywords": "question,3,10,marks,-,28,minutes,talking,friend,works,sales,supervisor", "question_title_h1": "Question 3 (10 marks - 28 minutes) You are talking to a friend who works as a sales supervisor of a retail store that sells", "question_title": "Question 3 (10 marks - 28 minutes) You are talking to a", "question_title_for_js_snippet": "Question 3 (10 marks 28 minutes) You are talking to a friend who works as a sales supervisor of a retail store that sells clothing at BLOSS, a national retailer Your friend started talking about some of his common concerns he has to make sure that staff sell items at the correct price and ring up every item sold He also is concerned that staff might override prices and take items home for themselves deeply discounted a form of theft You then started talking about the difference between management and audit responsibilities, noting that the auditor checks for many of these same risks during the financial statement audit Required The five general audit objectives about transactions or events are occurrence, completeness, accuracy, cutoff and classification State the specific transaction related audit objective for sales and also explain how each of these specific objectives relates to (or could relate to) your friend's concerns at BLOSS (10 marks) Use the following table for your response General audit State the specific transaction Explain how each of these objective about related audit objective for sales specific objectives relates to (or transactions or could relate to) your friend's events concerns at BLOSS Occurrence Completeness Accuracy Cutoff Classification", "question_description": "
\"image<\/div><\/div><\/div> Question 3 (10 marks - 28 minutes) You are talking to a friend who works as a sales supervisor of a retail store that sells clothing at BLOSS, a national retailer. Your friend started talking about some of his common concerns - he has to make sure that staff sell items at the correct price and ring up every item sold. He also is concerned that staff might override prices and take items home for themselves deeply discounted - a form of theft. You then started talking about the difference between management and audit responsibilities, noting that the auditor checks for many of these same risks during the financial statement audit. Required: The five general audit objectives about transactions or events are: occurrence, completeness, accuracy, cutoff and classification. State the specific transaction-related audit objective for sales and also explain how each of these specific objectives relates to (or could relate to) your friend's concerns at BLOSS. (10 marks) Use the following table for your response: General audit State the specific transaction- Explain how each of these objective about related audit objective for sales specific objectives relates to (or transactions or could relate to) your friend's events concerns at BLOSS Occurrence Completeness Accuracy Cutoff Classification", "transcribed_text": "", "related_book": { "title": "Income Tax Fundamentals 2013", "isbn": "1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516", "edition": "31st Edition", "authors": "Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1124.jpg", "uri": "\/textbooks\/income-tax-fundamentals-2013-31st-edition-9781285586618", "see_more_uri": "" }, "free_related_book": { "isbn": "B0CNMVDGGV", "uri": "\/textbooks\/banking-2-0-the-digital-transformation-1st-edition-b0cnmvdggv-289420", "name": "Banking 2 0 The Digital Transformation", "edition": "1st Edition" }, "question_posted": "2024-06-28 07:45:56", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/what-is-meant-by-the-statement-audit-documentation-ought-to", "description": "What is meant by the statement audit documentation ought to stand on its own? 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