1. Which of the following is NOT an audit procedure related to the balance of cash recorded by the client. Group of answer choices

A) Independent Count of Cash on Hand as of Balance Sheet date

B) Tracing Items in Bank Reconciliation to Bank Cutoff Statement

C) Reperformance of Bank Reconciliation

D) Tracing Checks Written After Balance Sheet Date to Related Invoices

2. What population should an auditor use when selecting which customers to send A/R confirmations? Group of answer choices

A. Outstanding Sales Invoices as of Balance Sheet Date

B. Sales Orders Issued During Year

C. Bills of Lading Prepared During Year

D. Subsidiary Accounts Receivable Balances

Expert Solution

Ans 1

D) Tracing Checks Written After Balance Sheet Date to Related Invoices

Reason:- It has no link with the cash verification.

Ans 2

A. Outstanding Sales Invoices as of Balance Sheet Date

Reason:- Amount outstanding on the balance sheet date is considered because we ask for the confirmation from debtors regarding their balances due on the balance sheet date.

ekkarill92 answered 2 years ago

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