Maximum Benefit from Review and Reconciliation Is Obtained When

question 2

Multiple Choice

Maximum benefit from review and reconciliation is obtained when

• A)it is made on a pre-announced basis.
• B)it is done by the employee possessing custody of the asset.
• C)discrepancies are reported to management.
• D)it is done at the time of the external audit.

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Definitions:

Strategy Understanding

The comprehension of the plans and actions companies undertake to compete and achieve their objectives effectively.

Basic Understanding

A fundamental level of comprehension of concepts, facts, or processes, which forms the foundation for further learning and application.

Diversity of Opinion

The presence of varied viewpoints and perspectives within a group, which can enhance decision-making and creativity but also lead to conflicts.

External Change

Modifications or adjustments that occur outside an organization, which can impact its operations and strategies.