Initial Substantive Procedures for Cash Balance Assertions May Include All

question 39

Multiple Choice

Initial substantive procedures for cash balance assertions may include all of the following except:

• A) trace opening balances for cash on hand and in bank to the previous year's working papers.
• B) review activity in general ledger accounts for cash and investigate entries that appear unusual in amount or source.
• C) obtain entity-prepared summaries of cash on hand and in bank, verify mathematical accuracy and determine agreement with general ledger.
• D) all of the above are initial substantive procedures for cash balance assertions.

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Definitions:

ABO Blood Group

A classification system for human blood based on the presence or absence of antibodies and inherited antigenic substances on the surface of red blood cells.

X Chromosomes

are one of the two types of sex chromosomes, present in two copies in females and one in males, carrying genes important for sexual development and other functions.

X-Linked

Gene located on an X chromosome.

Incomplete Dominance

A genetic phenomenon where the phenotype of a heterozygote is intermediate between the phenotypes of the two homozygotes, indicating a blend of the parental traits.