Which of the Following Would Most Likely Provide Advice and Assistance

question 1

Multiple Choice

Which of the following would most likely provide advice and assistance relating to assessing risks from a review of a business's operations?

• A) insurance advisor
• B) insurance broker
• C) insurance agent
• D) insurance adjuster

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Definitions:

Bank Reconciliation

This is a process of matching and comparing an organization's financial records with the bank statements to ensure consistency and accuracy.

Deposits In Transit

Funds that have been recorded by a company but not yet by its bank, typically because the deposit was made after the bank's cutoff time.

Balance Per Bank

The amount of money a company's records show in its bank account, often reconciled with the bank's records for accuracy.

Balance Per Books

The amount shown in a company's accounting records, as opposed to the actual cash balance or balance reported by a bank.