An auditor is performing a credit analysis of customers with balances over 60 days due. She is most likely obtaining evidence for which audit related objective?
A.realizable value
B.existence
C.completeness
D.occurrence
A.realizable value
B.existence
C.completeness
D.occurrence
Accounting errors will happen from time to time, but many common accounting mistakes can be avoided with proper planning and preparation. Here are the top seven accounting mistakes that should be paid more attention to.
(1 )Not knowing your true cash balance: Due to things like automatic payments and bank charges, money that appears in your cash drawer and your checking account may already be spent.
(2)Mistaking profits for cash: When you have a lot of credit sales, your company can post big profits without seeing any cash.
(3)Paying bills too soon: If your vendors give you thirty days to pay them, take it. Unless you get a discount for paying early, paying your bills only when they’re due improves your company’s cash flow.
(4)Avoiding book -keeping tasks: Not recording and posting transactions regularly leaves you with a mountain of book-keeping to deal with in the end.
(5)Paying accidental dividends: Every time a corporation owner takes money out of his business, it counts as a dividend. That can lead to a bigger personal income-tax bill.
(6)Not keeping personal finances separate from business: Mixing up business and personal money can cause bookkeeping and legal problems.
(7)Setting prices too low: Know your costs before you set product or service prices, or you run the risk of losing money on every sale. A simple break-even analysis can help you set prices at a profitable level.
() 21. Accounting mistakes cannot be avoided.
() 22. With a lot of credit sales, your company may have no cash at hand.
() 23. It is recommended not to pay bills too soon.
() 24. Business money and personal money can be mixed up.
() 25. Try your best to know your costs before you set product or service prices.
B.journal.
C.trialbalance
D.chartofaccounts.
A、realizable value
B、accuracy
C、cutoff
D、existence
A、Send positive confirmations.
B、Inquire of the client's credit manager.
C、Send negative confirmations.
D、Examine sales invoices.
A、sales master file
B、aged accounts receivable trial balance
C、accounts receivable master file
D、accounts receivable general ledger account
A、internal control surrounding accounts receivable is considered to be effective.
B、there is reason to believe that a substantial number of accounts may be in dispute.
C、a large number of small balances are involved.
D、the auditor believes that the recipients of the confirmations will give the requests adequate consideration.
为了保护您的账号安全,请在“简答题”公众号进行验证,点击“官网服务”-“账号验证”后输入验证码“”完成验证,验证成功后方可继续查看答案!