Identify and explain what are related management assertion(s) / audit objective(s) not met from the...
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Accounting
Identify and explain what are related management assertion(s) / audit objective(s) not met from the below errors: a) A sale was made to debit accounts receivable. Subsequently the goods were returned but no entry was recorded for the goods returned. b) Goods delivered to a customer but the transaction was not booked. c) A credit sale was made but the bank account was debited instead of accounts receivable. d) A sale was made on the last day of the financial year but was only booked two days later.
Identify and explain what are related management assertion(s) / audit objective(s) not met from the below errors:
a) A sale was made to debit accounts receivable. Subsequently the goods were returned but no entry was recorded for the goods returned.
b) Goods delivered to a customer but the transaction was not booked.
c) A credit sale was made but the bank account was debited instead of
accounts receivable.
d) A sale was made on the last day of the financial year but was only
booked two days later.
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