The Test That Proves the Bank Reconciliation to Additions and Subtractions

question 45

Multiple Choice

The test that proves the bank reconciliation to additions and subtractions including all reconciling items is an attempt to satisfy the audit objective of:

• A) detail tie- in.
• B) accuracy.
• C) completeness.
• D) existence.

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Definitions:

Cost-Benefit Analysis

An economic school of jurisprudence in which all costs and benefits of a law are given monetary values. Those laws with the highest ratios of benefits to costs are then preferable to those with lower ratios.

Manufacturing Plant

A facility where goods are produced on a large scale using machinery, often involving assembly lines or automated processes.

Infrastructure

The fundamental facilities and systems serving a country, city, or area, including transportation, communication, utilities, and public services.

Precedent

A legal decision or case that establishes a principle or rule which courts may follow in future cases with similar issues.