Economics · Auditing
An audit junior has suggested the following tests to audit the allowance for doubtful accounts: (1) Review cash receipts after year end. (2) Review an aged debt analysis of the sales ledger. (3) Ask the credit controller what debts are considered to be doubtful. (4) Review sales invoices relating to overdue accounts. Which of the following correctly ranks these tests in terms of their appropriateness to the VALUATION assertion (most appropriate listed first)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 13, 2, 1, 4
- 21, 2, 4, 3
- 32, 4, 3, 1
- 41, 2, 3, 4✓
Correct answer
1, 2, 3, 4
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