the following r three statements and we hv to choose the correct assertion for these out of accuracy, completeness and occurence
1-Review the treatment of a sample
of post-year-end returns
2-Select a sample of goods despatch
notes and agree to invoices in the
detailed sales listing
3-Select a sample of invoices from
the detailed sales listing and agree
to goods despatch notes
i did not understand these plz help me
also how is mathcing gdn with invoice and matching invoice with gdn different? im talking about statement 2 nd 3
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kaplan qtn 105
2mo ago#1The "direction" of 2 is from goods movement (out) to a sales invoice, which from the sales listing will be recorded in the books. From "source" to "inclusion in the FS" is the direction of testing for the completeness assertion (if a sales invoice were to be missing, revenue in the FS would be incomplete).
The "direction" of 3 is the opposite. Recorded revenue asserts that sales occurred - tracing "back" to source confirms that goods were, in fact, despatched.
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