When an Analytical Procedure Reveals No Unusual Fluctuations, the Implication

question 110

Multiple Choice

When an analytical procedure reveals no unusual fluctuations, the implication is that:

• A) the possibility of a material error or irregularity is minimised.
• B) there are no material irregularities.
• C) there are no material errors or irregularities.
• D) there are no material errors.

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Definitions:

Petty Cash

A small amount of cash kept on hand in a business for minor, routine expenses, managed through a system involving vouchers.

Petty Cash Receipt

A petty cash receipt is a document used to record small cash payments for minor expenses, part of a system to manage incidental or minor office costs.

Petty Cash Account

A small amount of cash kept on hand for making immediate payments for miscellaneous small expenses.