An Auditor Should Trace Cancelled Cheques and Cleared Deposits for the Last

question 55

Multiple Choice

An auditor should trace cancelled cheques and cleared deposits for the last part of the current audit period and the first part of the subsequent period to detect whether

• A)The cash receipts journal was held open for a few days after the year-end.
• B)The last cheques recorded before the year-end actually mailed by the year-end.
• C)Cash balances were overstated because of kiting.
• D)Any unusual payments to or receipts from related parties occurred.

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Definitions:

Social Change

Involves alterations in the social structure, cultural patterns, and behavior over time in a society.

Urban Neighborhoods

Urban neighborhoods refer to distinct geographical areas within cities, characterized by specific demographic, economic, and cultural patterns.

Functionalists

Sociologists who focus on how the various parts of society contribute to the whole, emphasizing the way that each part of a society functions to maintain stability and social order.

Conflict Theorists

Sociologists who view social life as a competition for limited resources and believe societal conflicts drive social change.