What is the purpose of the cut-off audit objective as, Ask an Expert

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What is the purpose of the CUT-OFF audit objective as applied to ACCOUNTS RECEIVABLE?

a. To make sure that receivables pertaining to loans to officers are not misclassified as trade receivables.

b. To make sure that the amount recorded for accounts receivable does not include any amounts due from sales that occurred after the balance sheet date.

c. To make certain that the audit is completed in time for the SEC's due date for financial statements.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9413467

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