Which of the Following Misstatements Would Normally Be Discovered as Part

question 40

Multiple Choice

Which of the following misstatements would normally be discovered as part of the audit of the bank reconciliation?

• A) Cash received by the client subsequent to the balance sheet date but recorded as cash receipts in the current year
• B) Deposits recorded as cash receipts near the end of the year, deposited in the bank in the same month and included in the bank reconciliation as a deposit in transit
• C) Payments on loans debited directly to the bank account but not entered in the client's records
• D) All of the above

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Definitions:

Carver

Refers to John Carver, a prominent figure noted for his development of the Policy Governance model for organizational boards.

Policies

Formal guidelines or rules established by organizations to govern behavior and decision-making processes within the organization.

Public Organizations

Entities that operate in the public sector, typically managed or funded by government agencies, and serve the public interest or provide public services.

Type Of Board

A classification describing the nature or governance structure of an advisory or oversight committee in an organization.