4. (TCO I) Accounts Receivable - For each of the following, please explain if an...
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4. (TCO I) Accounts Receivable - For each of the following, please explain if an auditors review of the clients sales cutoff would detect these problems: (a) Would excessive goods returned for credit be detected by a sales cut-off test why or why not? (b) Would unrecorded sales discounts be detected by a sales cut-off test why or why not? (c) Lapping of year-end accounts receivable be detected by a sales cut-off test why or why not? (d) Inflated sales for the year could it be detected by a sales-cut-off test why or why not? (Points : 30)
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