Which item must be checked against the audit receipt to verify transactions?

• A. The quantity and amount processed for cancellations and returns
• B. The number of proofs of purchases issued
• C. The total amount processed by credit card
• D. The number of gift cards processed and the total amount

Answer: (A)

Ensuring the audit receipt accurately reflects refunds and cancellations by matching the quantity and amount is essential. When a return or cancellation occurs, it changes both the revenue recorded and the inventory/stock status, so the specific number of items canceled and the exact dollar value of those cancellations must line up with what appears on the audit receipt. This direct match confirms that the transaction was processed correctly and that the cash, credit, and inventory records stay in sync with the receipt.

While other figures like how many proofs of purchase were issued, the total credit card amount, or gift card activity are part of sales data, they don’t verify the specific transaction on the audit receipt as precisely as the cancellation/return quantities and their monetary value. A mismatch in cancellations and returns would signal an issue with the receipt itself, whereas the other items are broader sales metrics.