Question 3
Multiple Choice
The overall objective of the audit of the sales and collection cycle is to evaluate whether:
A] the account balances affected by the cycle are fairly presented in accordance with Australian accounting standards.
B] the sales account and the accounts receivable account are presented fairly in accordance with generally accepted accounting principles.
C] the sales account and the accounts receivable account are free of
material errors.
D] the sales account and the accounts receivable account are free of errors.
Correct Answer:
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