Audit Exam 2 revenue and collection cycle

Revenue and Collection cycle/Acquisition and Expenditure cycle assertions
Occurence

sales/purchases and related events that have been recorded have occurred and pertain to the entity
Revenue and Collection cycle/Acquisition and Expenditure cycle assertions
Completeness

all sales/purchases and related events that should have been recorded have been recorded
Revenue and Collection cycle/Acquisition and Expenditure cycle assertions
Accuracy

Amounts and other data related to sales/purchase transactions and events have been recorded properly
Revenue and Collection cycle/Acquisition and Expenditure cycle assertions
Cutoff

Sales/purchases and related events have been recorded in the correct period
Revenue and Collection cycle/Acquisition and Expenditure cycle assertions
Classification

Sales/purchases and related events have been recorded in the proper accounts

Author

Anonymous

74435

Card Set

Audit Exam 2 revenue and collection cycle

Description

assertions w4rjkm

Updated

2011-03-22T08:56:03Z

Show Answers