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nitanikollaj nitanikollaj
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3 weeks ago
In describing the cycle approach to segmenting an audit, which of the following statements is not true?

▸ All general ledger accounts and journals are included at least once.

▸ Some journals and general ledger accounts are included in more than one cycle.

▸ The "capital acquisition and repayment" cycle is closely related to the "acquisition of goods and services and payment" cycle.

▸ The "inventory and warehousing" cycle may be audited at any time during the engagement since it is unrelated to the other cycles.
Textbook 

Auditing and Assurance Services


Edition: 17th
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bigmatic94bigmatic94
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The "inventory and warehousing" cycle may be audited at any time during the engagement since it is unrelated to the other cycles.

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