During the Count of Cash on Hand, It Is Not

question 49

Multiple Choice

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

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

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Definitions:

Sustainability

The practice of maintaining processes or systems in a way that does not deplete natural resources, ensuring long-term ecological balance.

Competitive Advantage

The attributes or conditions that allow a company to produce goods or services better or more cheaply than its competitors.

Environmental Costs

Expenses associated with the negative impact of a company's operations on the natural environment, including waste disposal, pollution control, and resource depletion.

Climate Change

A significant and lasting change in the statistical distribution of weather patterns over periods ranging from decades to millions of years.