The following information applies to questions 4 and 5.The following tree map visualization represents total sales of your client, GJ Ltd’s (GJ’s) inventory by category and product lines for the financial year ending 30 June 2018.Women’s wear Sports wear Minnki PalsiiLe Baby Dress Feiss wearTennis suitYe shoes T- SJumping Jack DressMen’s wearSamba socksBowtie | O-Man4. Based on the above visualization, which of the following would you be LEAST concerned with in the audit of GJ?a) The risk that GJ offers a product line that is too narrow for the company to be competitive.b) The risk that GI’s men’s wear line is potentially overstated.c) The risk that sales of the Minnki Palsii line is potentially overstated.d) The risk that that T-S product line is obsolete.5. Which of the following would be the LEAST appropriate procedure to undertake in testing sales of the Minnki Palsii product line?a) Select a sample of Minnki Palsii sales to verify that appropriate prices were used by reference to the authorized price list as of the date of each sale.b) Review forward orders on Minnki Palsii for which payments have been received but that have yet to be delivered to customers and ensure that they are excluded from sales.c) Physically inspect a sample of Minnki Palsii at each location where GJ stores the product line and verify the same number of items are recorded in the company’s inventory records.d) Select a sample of Minnki Palsii sales and match to shipping documents to ensure that the appropriate quantities of goods were recorded for each sale.
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
