‘Goods sent on approval basis’ have been recorded as ‘Credit sales’. This is an example of _

Related MCQs

• While vouching, how will the auditor ensure himself that all credit sales transactions have been recorded by the entity?
• To test whether sales have been recorded, the auditor should draw a sample from a file of
• Goods sold but not recorded in Sales Register is ________________
• Goods sold on the basis of ‘sales or return ‘ should
• An internal auditor discovered that fictitious purchases have been recorded by the purchase clerk. This indicates absence of which control?
• Goods purchased but not recorded in the purchase register is ________________
• When a transaction has not been recorded in the books of account either wholly or partially such errors are called as _________.
• The creditor’s accounts, generally, have credit balance. Debit balance may be due to
• While observing a client’s annual physical inventory, an auditor conducted test counts for certain test counts were higher than the recorded quantities in the client’s perpetual records. This situation could be the result of the client’s failure to record –
• The client changed method of depreciation from straight line to written down value method. This has been disclosed as a note to the financial statements. It has an immaterial effect on the current financial statements. It is expected, however, that the change will have a significant effect on future periods. Which of the following option should the auditor express?