What Form of Evidence Is Used by the Auditor to Verify

question 99

Multiple Choice

What form of evidence is used by the auditor to verify bank reconciliation items?

• A)Cash counting observation.
• B)General ledger.
• C)Bank reconciliation.
• D)Cutoff statement.

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Definitions:

Stamp Act

A 1765 act imposed by the British Parliament on the American colonies, requiring all printed materials to carry a tax stamp, which contributed to growing colonial unrest.

Townshend Acts

A series of British laws passed in 1767 imposing taxes on the American colonies for goods such as paper, tea, glass, and paint, which stirred resistance and controversy.

Thomas Hutchinson

A British government official and historian, he was a leading figure in Massachusetts during the colonial period, known for his pro-British stances leading up to the American Revolution.

Economic Possession

Refers to the ownership or control over assets and resources that have economic value, including land, capital, and commodities.