The Reason for Testing the Client's Bank Reconciliation Is to Verify

question 49

Multiple Choice

The reason for testing the client's bank reconciliation is to verify whether the client's recorded bank balance is the same amount as the actual cash in the bank,except for deposits in transit,cheques outstanding,and other reconciling items.The information needed to complete the tests of the reconciliation are provided by the

• A)client's journals and ledgers for the year under audit.
• B)cutoff bank statement.
• C)client's journals and ledgers for the subsequent year.
• D)cancelled cheques for the year under audit.

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Definitions:

Monosaccharides

The simplest form of carbohydrates, consisting of a single sugar molecule, such as glucose or fructose.

Phosphate Groups

Chemical groups containing phosphorus and oxygen that are critical components of molecules like DNA, ATP, and phospholipids.

Amino Acids

Organic compounds that serve as the building blocks of proteins, containing both an amino group and a carboxyl group.

Double Covalent Bonds

Chemical bonds formed by the sharing of two pairs of electrons between two atoms, creating a strong link in the molecule structure.