Where Is the Primary Emphasis in Most Tests of Details

question 19

Multiple Choice

Where is the primary emphasis in most tests of details of balances?

• A) income statement accounts
• B) cash flow statement account
• C) balance sheet accounts
• D) all of the above

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Definitions:

Sales Assistance

Support activities provided to help in the selling of products or services, including marketing, promotional efforts, and customer service.

Cash Equivalents

Short-term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value.

Certificates of Deposit

Time-bound deposit offered by banks that pays interest to the depositor, with withdrawal of funds before maturity generally incurring penalties.

Internal Control

A process designed to ensure the reliability of financial reporting, effectiveness and efficiency of operations, and compliance with applicable laws and regulations.