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AC492 Final Examination Answers

AC492 Final Examination Answers

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AC492 Final Examination Answers

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AC492 Final Examination Answers

1.     The specific audit objective that all purchases and cash disbursements made during the period were recorded relates to:

existence or occurrence.

presentation and disclosure.

rights and obligations.

completeness.

2.     The use of the computer to compare production hours to direct labor hours on daily production reports relates to the:

rights and obligations assertion.

completeness assertion.

existence or occurrence assertion.

valuation or allocation assertion.

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