Where would a new auditor go to learn the names and numbers

Assignment Help Managerial Accounting

Reference no: EM132667234

Problem 1: The income statement provides what information to the user?

Option 1: Assets and liabilities of the company

Option 2: Reports the cash of the company including cash income from sales

Option 3: Reports the profits and/or losses of the business through identifying the sales and expenses of a company

Option 4: Records the sales of stock and the dividends declared

Problem 2: A client's accounting records are unfamiliar to a new auditor. Where would a new auditor go to learn the names and numbers of the accounts being debited and credited in the transactions?

Option 1: General Journal

Option 2: Chart of Accounts

Option 3: Internal control flowcharts

Option 4: Inquire of the client

Problem 3: In the Accounting Process, what steps are considered inputs?

Option 1: Transactions Occur, prepare documents

Option 2: Prepare documents, record in journals, post to ledgers

Option 3: Prepare trial balance, post adjusting entries

Option 4: Prepare closing entries, prepare financial statements

Reference no: EM132667234

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