The Auditor Uses a Proof of Cash to Determine Whether

question 61

Multiple Choice

The auditor uses a proof of cash to determine whether

• A)internal controls over cash have been functioning effectively in the period under audit.
• B)all recorded cash receipts were deposited and whether all recorded cash disbursements were paid by the bank.
• C)accounts receivable was properly recorded and whether cash receipts transactions were properly recorded.
• D)accounts payable was properly recorded and whether cash disbursement transactions were properly recorded.

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Definitions:

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The degree of accuracy and exactness in shaping parts by cutting, boring, drilling, or grinding, crucial for the proper functioning of mechanical systems.

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American Petroleum Institute

A leading oil and gas industry association that sets standards for petroleum products and their proper handling.

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