Georgina Was Working as the Part-Time Accountant for Three Small

question 51

Multiple Choice

Georgina was working as the part-time accountant for three small businesses.Whenever she could,she pocketed cash and neglected to record the sale in the sales system.The general transaction-related audit objective affected by her actions is

• A)occurrence.
• B)completeness.
• C)accuracy.
• D)posting and summarization.

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Definitions:

Currency Intervention

A government’s buying and selling of its own currency or foreign currencies to alter international exchange rates.

Foreign Exchange

The market where currencies are traded, allowing for the conversion of one currency into another.

Monetary Policy

The process by which a country's central bank controls the money supply, often targeting an inflation rate or interest rate to ensure economic stability and growth.

Exchange Rate

The exchange rate of one currency relative to another for the purpose of conversion.