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Identify the important controls and related sales

Question - The shipping department copy of the invoice and the bills of lading are then sent to the shipping department. After the order has been shipped, copies of the bill of lading are returned to the billing department. The shipping department copy of the invoice is filed in the shipping department.

Required:

a. Identify the important controls and related sales transaction-related audit objectives.

b. List the procedures that a CPA will use in an audit of sales transactions to test the identified controls and the substantive aspects of the sales transactions.

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Accounting Basics: Identify the important controls and related sales

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