21. Within SAP, when you post an invoice received from a vendor,
the general ledger is automatically updated. Which management
assertion is most directly enhanced by this?
a. Occurrence
b. Cutoff
c. Completeness
d. Authorization
Answer : c. Completeness
As
When vendor invoice is posted and ledger gets updated it is ensuring in itself the completeness of the transaction and records with respect to the transaction so management assertion that had the transaction is completely recorded or not is enhanced by this process in SAP
Hence our answer is c. Completeness
21. Within SAP, when you post an invoice received from a vendor, the general ledger is...
13. As part of the SAP tutorial, you were granted access to most roles and profiles. In SD02 you created a master record for a customer. By allowing the same user to also place a sales order, which management assertion is in danger of failing? a. Cutoff b. Classification c. Completeness d. Occurrence
The document flow from customer inquiry to billing most directly enhances which management assertion? a. Occurrence b. Authorization c. Accuracy d. Completeness
The AP process starts when the QHD Corporate Accountant opens the month in SAP to record AP related transactions and journals. There are 6 regions in the QHD system, and each region has a hub where their AP process is managed by the Administration Officer. The Administration Officer is responsible for coding each invoice with the Cost Centre number, the General Ledger Account and a brief description. Unfortunately, these Administration Officer regional roles have extremely high turnover and staff typically...
The AP process starts when the QHD Corporate Accountant opens the month in SAP to record AP related transactions and journals. There are 6 regions in the QHD system, and each region has a hub where their AP process is managed by the Administration Officer. The Administration Officer is responsible for coding each invoice with the Cost Centre number, the General Ledger Account and a brief description. Unfortunately, these Administration Officer regional roles have extremely high turnover and staff typically...
Audit and Investigation work. Can you please assist me.Thank you B- ASSERTIONS AND AUDIT OBJECTIVES: The following are specific balance related audit objective applied to the audit of accounts receivable (a thu h) and management assertions about account balances (1 thu 4) The list referred to in the specific balance related audit objectives is the list of the accounts receivable from each customer at the balance sheet date. Specific Balance Related Audit Objective a) There are no unrecorded receivables b)...
Post information from the journals in Part 2 to the
general ledger and the accounts receivable and accounts payable
subsidiary ledgers.
Required information Problem 7-1A Special journals, subsidiary ledgers, trial balance-perpetual LO C3, P1, P2 The following information applies to the questions displayed below.) Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 3/10, n/30). Mar. 14 1 Purchased $38,000 of merchandise from Van Industries, invoice dated March 1,...
1.To conclude that a management review control is effective, the auditor is required to identify a selection of instances in which the control operated, evaluate whether management followed the procedures specified by the control, and properly evaluated and resolved exceptions. A) True B) False 2. Which of the following statements about substantive analytical procedures is correct? A) The results of the procedure provide evidence about the existence or absence of misstatement in an account. B) The results of the procedure...
Celestial Enterprise General Ledger April 2020
QUESTION TWO [20] The following information was extracted from the accounting records of Celestial Enterprises. The business operates and maintains a general ledger as well as subsidiary ledgers for Debtors and Creditors. At 30 April 2020, the total of the list of debtors was R224 640 which did not reconcile with the balance of R202 500 in the Debtors Control account. Details follow: 1. Celestial Enterprises: General ledger for April 2020. DR CR 352...
21. You ae gyo ooh tow &w mad yos the ong inRy e w A cone on see rge smple of ou u When e co kw e foous on teting the Comsie d ce o dw y e y One aseton that audiing reweue i Conemars of o e o e rs wiro meion Review of the subseuet cnh oeorn is the g procedure tor detemining the oet Aun audtor should normaty eom ema the existence of accounts rece...
Cynthia Company Bank reconciliation which of the audit procedures listed below would most likely have been used to verify the accuracy of the amounts identified of Balance per bank December 31, 2018 Balance per bank 12/31 $18,375.91 a Deposits in Transit 12/30 1,471.10$ b 12/31 2,840.69 b 4,311.79 Outstanding Checks 6/30 837 6,000.00 c 12/15 1941 671.80 12/20 1966 320.00 12/21 1984 1,855.42 12/23 1985 3,621.22 c 12/28 1985 2,576.89 c 12/30 1991 4,420.88 c (19,466.21) NSF check returned 12/29 ...