ABC Company Has 100 Shares of IBM Stock That Is

question 92

Multiple Choice

ABC Company has 100 shares of IBM stock that is held as an investment. The stock was purchased three years ago and has been in the client's safe deposit box along with other investment securities. During an inspection of securities held by the client, the auditor noted the 100 shares of IBM stock had a different CUSIP number than the number listed when purchased and the number verified during the previous audit. Which of the following would be the auditor's main concern about this discovery?

• A)The certificates in the safe deposit box were forgeries.
• B)There was unauthorized buying and selling of investment securities.
• C)The securities may be misclassified on the balance sheet.
• D)The securities were no longer owned by ABC Company.

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Definitions:

Mother's Healthcare

Medical services and support provided to women during pregnancy, childbirth, and the postnatal period.

Parenting Guidance

Advice, strategies, and support provided to parents and caregivers to help them raise children more effectively and with greater understanding of developmental stages.

Prenatal Care

Medical and health care provided to expectant mothers during pregnancy, aiming to monitor and promote the well-being of both the mother and the fetus.

Low-birth-weight Infants

Babies born with a weight of less than 2,500 grams (about 5.5 pounds), which can lead to various health challenges.