matching terms are substantve test of transactions and test of details of balance

Distinguish between substantive tests of transactions and tests of details of balances. Give one example of each for the acquisition and payment cycle. Match the terms with the correct definition. 1) Tests performed verify the ending balance in an individual account on the financial statements. 2) Tests performed verify the accuracy of a client's accounting system. This is accomplished by determining whether individual transactions are correctly recorded and summarized in the journals, master files, and general ledger. Select an example of a substantive test of transaction. O A Tracing amounts from a file of vouchers to the acquisitions journal. O B. Tracing of selected customer cash receipts to the accounts receivable master file, agreeing customer names and amounts. OC. Observing whether shipping documents are forwarded daily to billing and observe when they are billed. OD. Sending confirmations to a selection of suppliers to confirm their account payable balance as of the date of the financial statements. Select an example of a test of details of balances. O A. Examination of employee time cards for approval of overtime hours worked. O B. Physically examine a sample of the client's fixed assets. OC. Sending confirmation to the bank to confirm loan balances. OD. Sending confirmation to customers to confirm their accounts receivable balances