Which of the Following Is a Substantive Test of Transactions

question 67

Multiple Choice

Which of the following is a substantive test of transactions?

• A)Review personnel policies.
• B)Account for a sequence of payroll cheques.
• C)Reconcile the disbursements in the payroll journal with the disbursements on the payroll bank statement.
• D)Examine printouts of transactions rejected by the computer as having invalid employee numbers.

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Definitions:

Inheritance

Assets, money, or property received from someone who has died, transferred through legal means such as a will or through intestate laws if no will exists.

Creditors

Individuals or institutions that lend money or extend credit to others, expecting to be repaid.

Withdrawal Symptoms

Physical or psychological symptoms that occur after stopping or reducing the intake of a substance that the body has become dependent on.

Institutionalized

Refers to the process or state of being placed into and becoming accustomed to a structured institutional environment, such as a prison or mental health facility.