During the Count of Cash on Hand, It Is Not

question 15

Multiple Choice

During the count of cash on hand, it is not necessary for the auditor to:

• A) insist on the presence of an internal auditor throughout the count.
• B) insist on the presence of the custodian of the cash throughout the count.
• C) obtain a signed receipt from the custodian on return of the funds.
• D) ascertain that all undeposited funds are payable to the order of the client, either directly or through endorsement.

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Definitions:

Predicted Values

The values estimated using a statistical model or algorithm, representing the expected outcome.

Coefficient of Determination

A statistical measure, often denoted as R-squared, that represents the proportion of the variance in the dependent variable that is predictable from the independent variable(s).

Independent Variable

A variable in an experiment or analysis that is manipulated or categorized to observe its effect on a dependent variable.

Dependent Variable

The variable in an experiment that is expected to change as a result of manipulations of the independent variable.