Rev Cycle Flashcards

1
Q

Valuation and allocation deal with

A

whether asset, liability, revenue, and expense components have been included in the financial statements at appropriate amounts, and any resulting valuation adjustments are appropriately recorded.

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2
Q

Understandability of presentation and classification deal with

A

whether financial information is appropriately presented and described, and disclosures are clearly expressed

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3
Q

Tracing bills of lading to sales invoices provides evidence that:

A

Shipments to customers were invoiced.

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4
Q

racing from the sales journal to bills of lading

A

provides evidence that recorded sales were shipped.

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5
Q

Record count

A

addresses the completeness

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6
Q

Limit tests

A

would test the reasonableness of data and that the individual sales records were not outside of an expected range.

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7
Q

check digits test

A

used to determine whether all numbers were entered.

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8
Q

Run-to-run totals are completed to ensure

A

that the total of one processing run, plus the input from the next processing run, should equal the result from the second processing.

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9
Q

Two assertions for which the confirmation of accounts receivable balances provides primary evidence

A

Rights and obligations and existence.

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