After making inquiries about credit granting policies, an auditor selects a sample of sales transactions and examines evidence of credit approval. This test of controls most likely supports management’s financial statement assertion(s) of
|
Rights and obligations |
Valuation or allocation |
|
|
a. |
Yes |
Yes |
|
b. |
Yes |
No |
|
c. |
No |
Yes |
|
d. |
No |
No |