The Reason for Testing the Client's Bank Reconciliation Is to Verify

question 49

Multiple Choice

The reason for testing the client's bank reconciliation is to verify whether the client's recorded bank balance is the same amount as the actual cash in the bank,except for deposits in transit,cheques outstanding,and other reconciling items.The information needed to complete the tests of the reconciliation are provided by the

• A)client's journals and ledgers for the year under audit.
• B)cutoff bank statement.
• C)client's journals and ledgers for the subsequent year.
• D)cancelled cheques for the year under audit.

---

Definitions:

Job Specialization

The method of concentrating one's professional efforts on a particular field of knowledge to boost efficiency and mastery.

Directly Responsible

Being explicitly accountable or answerable for actions, tasks, or outcomes without intermediaries.

Job Rotation

A method of employee development where individuals are moved through a variety of positions to gain breadth of experience.

Reducing Boredom

The process or methods used to alleviate feelings of tedium or uninterest, especially in work or daily activities.