Which of the following is a control activity in relation to occurence? a. The...

50.1K

Verified Solution

Question

Accounting

Which of the following is a control activity in relation to occurence?

a.

The accountant inspects areas where repair costs have been invoiced to ensure repairs have been carried out.

b.

At the end of each month, the accountant reviews whether income has been received for all current rental agreements.

c.

The accountant compares the amount in the building repairs invoice with the repairs quotation.

d.

The accountant reviews rental income received around year-end to see which period it has been recorded in.

Which of the following is NOT generally reviewed as part of the auditors identification of special circumstances and unusual risks before accepting an engagement?

a.

Identifying intended users of the audited financial report.

b.

Assessing a prospective client's legal and financial stability.

c.

Reviewing industry and economic data.

d.

Evaluating the entity's auditability.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students