AUXILIARY JOURNAL Definition

Bookmark and Share

AUXILIARY JOURNAL is a journal in which accounting information is stored both before and after the transfer to the General Ledger.

Learn new Accounting Terms

NONSAMPLING RISK is audit risk not due to sampling. An auditor may apply a procedure to all transactions or balances and fail to detect a material misstatement. Nonsampling risk includes the possibility of selecting audit procedures that are not appropriate to achieve a specific objective. For example, confirming recorded receivables cannot reveal unrecorded receivables. Nonsampling risk can be reduced to a negligible level through adequate planning and supervision.

TARE WEIGHT is the weight of packing container and packaging material without the weight of the goods contained therein.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.