The Cash Account Is Significant to the Auditor for Which

question 54

Multiple Choice

The cash account is significant to the auditor for which of the following reasons?

• A) The cash account is the culmination of a large volume of transactions.
• B) The cash account is not as susceptible to fraud as most other accounts.
• C) Cash is the only account that provides opportunity for fraud.
• D) Automated systems do not possess the capability to maintain strong internal controls over cash.

---

Definitions:

Innovation

The introduction of new ideas, methods, or devices.

Creativity

The ability to produce original and valuable ideas, involving thinking or imagining in new ways to solve problems or create new things, within any realm of human activity.

Employee Training Methods

Diverse techniques and programs designed to equip employees with the skills and knowledge required for their role and ongoing career development.

Innovation

The process of creating new ideas, products, or methods, which can lead to improvements in efficiency, solutions to problems, or competitive advantage.