A Client Has a Large and Active Investment Portfolio That

question 370

Multiple Choice

A client has a large and active investment portfolio that is kept in a bank safe deposit box. If the auditor is unable to count the securities at the balance sheet date, the auditor most likely will:

• A) Request the bank to confirm to the auditor the contents of the safe deposit box at the balance sheet date.
• B) Examine supporting evidence for transactions occurring during the year.
• C) Count the securities at a subsequent date and confirm with the bank whether securities were added or removed since the balance sheet date.
• D) Request the client to have the bank seal the safe deposit box until the auditor can count the securities at a subsequent date.

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Definitions:

Sodium Level

The concentration of sodium ions in the blood, crucial for maintaining proper body fluid balance and nerve function.

Extracellular Fluid Volume

The volume of all the body fluids outside cells, including interstitial fluid and blood plasma, important for maintaining proper fluid balance and physiological functions.

Crohn's Disease

A chronic inflammatory bowel disease that affects the lining of the digestive tract, causing pain, severe diarrhea, fatigue, weight loss and malnutrition.

Dyspneic

Experiencing or relating to shortness of breath or difficulty in breathing, often a symptom in various health conditions.