Gina Is Performing the Audit of the Payables Section of Reno

question 36

Multiple Choice

Gina is performing the audit of the payables section of Reno Inc.She wants to confirm the payables from an independent source.Which of the following actions would achieve this?

• A)Confirm an interco payable with the CEO of the US branch of Reno Inc.
• B)Confirm the account payable with Clarkson Corp.The CFO of Clarkson is the wife of the controller of Reno.
• C)Confirm the line of credit balance with Citizen Bank.Reno does all its banking with Citizen and it also has a long-term loan there.
• D)Confirm the account payable to Suco Inc.The CEO of Reno owns 30% of the outstanding shares of Suco.

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Definitions:

Trypanosomes

Single-celled parasitic organisms responsible for diseases like African sleeping sickness and Chagas' disease, transmitted by insect vectors.

Foraminiferans

Single-celled protists with shells, known for their role in marine ecosystems and as indicators of environmental change.

Rhizarians

A group of mostly unicellular eukaryotic organisms that include foraminifera, radiolarians, and cercozoans, characterized by their amoeboid movement and complex shell structures.

Coccolithophorids

A group of planktonic algae that produce calcium carbonate plates known as coccoliths, contributing significantly to marine sediments.