Ask Question
BusinessBusiness
5 January, 16:47

What are key tests of controls / substantive tests for sales? what are you trying to validate? g?

+3
Answers (1)
  1. 5 January, 17:56
    0
    Tests of controls and substantive tests for sales are types of tests used in an auditing system. The auditor is attempting to validate whether or not financial statements can be legitimized or whether or not they have failed in legitimacy. Tests of controls can include examining documents, whereas substantive tests include a test that looks for mistakes in financial balances or statements.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “What are key tests of controls / substantive tests for sales? what are you trying to validate? g? ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Fabian was finding it difficult to acquire a credit card that would suit his needs. He checked his credit report to determine why he was facing these difficulties. What would have had a negative impact on Fabian's credit score and brought it down? A.
Answers (1)
The Surf's Up issues 1,000 shares of 6%, $100 par value preferred stock at the beginning of 2020. All remaining shares are common stock. The company was not able to pay dividends in 2020, but plans to pay dividends of $18,000 in 2021. 1.
Answers (1)
The elkridge bar & grill has a seven-year loan of $23,500 with bank of america. it plans to repay the loan in seven equal installments starting today. if the rate of interest is 8.4 percent, how much will each payment be?
Answers (1)
Able sells and delivers a piece of equipment to Smythe for $2,000 on August 1 and the equipment cost $1,300. The sale is a credit sale. How is this transaction accounted for under a periodic system of inventory?
Answers (1)
The market has an expected rate of return of 12.6 percent. The long-term government bond is expected to yield 5.8 percent and the U. S. Treasury bill is expected to yield 3.3 percent. The inflation rate is 3.2 percent.
Answers (1)
New Questions in Business
What is a disadvantage of government bonds? a) they have a high intrest rate b) They are difficult to find c) They are relatively risk-free d) all of the above
Answers (1)
The Sedgwick Company estimates sales of a new product at 5,000 units and $3.00 per unit. Management feels the sales quantity is accurate within a 10 percent plus-or-minus range while the sales price is accurate within a 5 percent plus-or-minus range.
Answers (1)
The actual cost of direct labor per hour is $ 11.00 and the standard cost of direct labor per hour is $ 9.50. The direct labor hours allowed per finished unit is 0.25 hour.
Answers (1)
A large oil company is studying the number of gallons of gasoline purchased per customer at self-service pumps. The mean number of gallons is 10.0, with a standard deviation of 3.0 gallons. The median is 10.75 gallons.
Answers (1)
Eighty percent of your business comes from 20% of your Question 7 options: effort. personal referrals. years in business. customers.
Answers (2)
Home » Business » What are key tests of controls / substantive tests for sales? what are you trying to validate? g?
Sign Up Forgot Password?