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Past Exam Question

Forums › ACCA Forums › ACCA AA Audit and Assurance Forums › Past Exam Question

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by Kim Smith.
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  • Author
    Posts
  • February 26, 2021 at 1:38 am #611725
    Nikitagarwal
    Participant
    • Topics: 154
    • Replies: 147
    • ☆☆☆

    Hello Sir,
    Hope you are well!
    I have a question from March/June 2019 exam, the brief is as below:
    Supplier Balance per Balance per
    purchase ledger supplier statement
    $ $
    Poole Co (72,168) 84,235
    The difference on this balance has still to be investigated.

    Which of the following would be a valid explanation for the difference in respect of Poole Co?
    (1) An invoice for $156,403 has been paid twice
    (2) An invoice for $156,403 has been posted as a debit note
    (3) An invoice for $156,403 has been received and processed prior to receipt of the goods
    A 1 only
    B 1 and 2 only
    C 2 and 3 only
    D 1, 2 and 3

    As per answer it is just 1st and my understanding is saying it should be 2nd as well because there is a debit balance so there maybe chances that a debit note was issues.
    Can you please explain.

    February 26, 2021 at 9:26 am #611774
    Kim Smith
    Keymaster
    • Topics: 132
    • Replies: 8273
    • ☆☆☆☆☆

    Please see here https://opentuition.com/topic/assertions-17

    And please remember to post to the TUTOR forum for a tutor response – thank you.

  • Author
    Posts
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