Question 14 Which of the following would be an example of vouching? 1. Making sure a sale is included in the Sales account on the Income Statement. 2. Visiting real estate listed on the client's balance sheet. 3. Ensuring proper disclosure of revenue recognition policies. 4. Checking documents for alteration. O 4 O 2 O 1

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Chapter8: Subprime Lending Fiasco-ethics Issues
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Question 14
Which of the following would be an example of vouching?
1. Making sure a sale is included in the Sales account on the Income Statement.
2. Visiting real estate listed on the client's balance sheet.
3. Ensuring proper disclosure of revenue recognition policies.
4. Checking documents for alteration.
O 4
O 2
O 1
O 3
Transcribed Image Text:Question 14 Which of the following would be an example of vouching? 1. Making sure a sale is included in the Sales account on the Income Statement. 2. Visiting real estate listed on the client's balance sheet. 3. Ensuring proper disclosure of revenue recognition policies. 4. Checking documents for alteration. O 4 O 2 O 1 O 3
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Audit: It implies to the detailed investigation and analysis of company's financial records to make the auditor enable to provide an opinion on the company's financial statements related to their true and fair view. 

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