Ask Question
BusinessBusiness
10 September, 21:17

An auditor observes the mailing of monthly statements to a client's customers and reviews evidence of follow-up on errors reported by the customers. This test of controls most likely is performed to support management's financial statement assertions of

+4
Answers (1)
  1. 11 September, 01:17
    0
    Answer: Rights and obligations

    Explanation:

    According to the given question, an auditor is basically observe the monthly statement of the customer and the client reviews on the behalf of given evidences and also the reported errors by the users.

    The controlling process is basically performed by the financial management of the rights and the obligation assertions.

    The rights and obligation of assertion is one of the type of basic assertion type which basically include all the liability and assert of an organization in the form of financial statement. It basically state the legal right of the company and the process of using these rights in the business.

    Therefore Rights and obligations is the correct answer.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “An auditor observes the mailing of monthly statements to a client's customers and reviews evidence of follow-up on errors reported by the ...” 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
Karley's setting aside $32,000 each quarter, starting today, for the next three years for an expansion project. How much money will the firm have at the end of the three years if it can earn an average of 5.45 percent on its savings
Answers (1)
Darren is a certified interior designer with a lucrative client list in the city of kelsa, situated in the state of touslon. his business affords him a substantial amount of goodwill from his clients.
Answers (1)
What item is not part of a college application
Answers (1)
A power surge sparks a small electrical fire in an office building. The electrical fire triggers the automatic sprinkler system and the water from the sprinklers, soaks the carpet and shorts-out all the computers, causing thousands of dollars in
Answers (1)
In accordance with the debit and credit rules, which of the following is true? Debits increase both assets and common stock. Credits increase both assets and liabilities. Credits increase assets. Debits increase assets.
Answers (1)
New Questions in Business
In 2013, teller company sold 3,000 units at $400 each. variable expenses were $280 per unit, and fixed expenses were $160,000. what was teller's 2013 net income?
Answers (1)
A project that provides annual cash flows of $24,000 for 9 years costs $110,000 today. Under the IRR decision rule, is this a good project if the required return is 8 percent?
Answers (1)
Which of the following groups has the responsibility for identifying and deciding the appropriate accounting treatment for recording or disclosing contingent liabilities? A) Auditors B) Legal counsel C) Management D) Management and the auditors
Answers (1)
The market for gasoline has changed in a couple significant ways over the last few years: new technologies have decreased the costs associated with producing gasoline, and automobiles are becoming more fuel efficient.
Answers (1)
The inaccuracy of the grapevine has more to do with the message output than with the input. a. True b. False
Answers (2)
Home » Business » An auditor observes the mailing of monthly statements to a client's customers and reviews evidence of follow-up on errors reported by the customers.
Sign Up Forgot Password?