Which of the Following Misstatements Would Normally Be Discovered as Part

question 115

Multiple Choice

Which of the following misstatements would normally be discovered as part of the audit of the bank reconciliation?

• A) cash received by the client subsequent to the balance sheet date but recorded as cash receipts in the current year
• B) deposits recorded as cash receipts near the end of the year, deposited in the bank in the same month and included in the bank reconciliation as a deposit in transit
• C) payments on loans debited directly to the bank account but not entered in the client's records
• D) all of the above

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Definitions:

Alcoholics Anonymous

A worldwide fellowship program for individuals seeking to overcome alcoholism through a 12-step recovery process.

Sin Tax

A form of tax levied on goods or activities considered harmful to society, such as tobacco, alcohol, and gambling, intended to discourage their consumption.

Minimum Drinking Age

The legal age at which an individual is allowed to purchase and consume alcoholic beverages.

Religious Organization

An institution dedicated to the practice and dissemination of a particular religion or belief system.