Multiple Choice
Which of the following procedures can test the audit objective of determining that cash in bank, as stated on the reconciliation, foots correctly and agrees with the general ledger?
A) adding the unpresented cheques list and the list of deposits in transit
B) examining the minutes of the board of directors for restrictions on the use of cash
C) performing tests for kiting
D) receiving and testing a cutoff bank statement
Correct Answer:
Verified
Correct Answer:
Verified
Q85: The starting point for the verification of
Q86: The procedure of comparing the total balance
Q87: Usually dividends are audited:<br>A) using variables sampling.<br>B)
Q88: Which of the following misstatements would result
Q89: Cash account is primarily affected by which
Q91: Cash account is primarily affected by which
Q92: A major consideration in the audit of
Q93: If internal controls over cash-related transactions are
Q94: Cash balance is important in the audit
Q95: Depreciation expense is normally verified using tests