【每日一练】ACCA F8（Dec 2014）

Please use the space provided on the inside of the Candidate Answer Booklet to indicate your chosen answer to each multiple choice question.

Which TWO of the following substantive procedures provide evidence over the EXISTENCE of trade receivables? 
(1) Agreeing a sample of goods despatched notes to sales invoices and to the sales ledger
(2) Undertaking a receivables circularisation
(3) Review of post year-end cash receipts, if these relate to year-end receivables follow through to the sales ledger
(4) Recalculating the allowance for uncollectible accounts
A 1 and 3
B 2 and 4
C 2 and 3
D 1 and 4

Answer：

C

Substantive procedure 1 provides evidence over the assertion of completeness as the direction of the test is from source documents to accounting records. Substantive procedure 4 provides evidence over valuation and allocation rather than existence.

更多精彩：

ACCA这张证书价值究竟有多大？写给对ACCA仍不了解的童鞋们

ACCA会员权利 & 义务知多少