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State the assertion at which each one is aimed

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Reference no: EM132680713

Problem 1: Below are listed three internal controls. State the assertion at which each one is aimed.

(i) The client uses prenumbered documents for purchases. Periodically a clerk performs a sequence check.

(ii) Sales are subject to a credit check before they are processed.

(iii) A second clerk check that account codings on source documents are in accordance with the entity's chart of accounts.

Reference no: EM132680713

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