A Practical and Effective Audit Procedure for the Detection of Lapping

question 2

Multiple Choice

A practical and effective audit procedure for the detection of lapping is:

• A)Preparing an interbank transfer schedule.
• B)Comparing recorded cash receipts in detail against items making up the bank deposit as shown on duplicate deposit slips validated by the bank.
• C)Tracing recorded cash receipts to postings in customers' ledger cards.
• D)Preparing a proof of cash.

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Definitions:

Preservation of Knowledge

The act of maintaining, protecting, and saving information or skills so that it remains available over time, often through documentation or teaching.

Collectivist Cultures

Societies that prioritize the group over individual interests, emphasizing community, cooperation, and interdependence.

Individualist Cultures

Societies that prioritize the needs and rights of the individual over those of the group or community.

Pathogens

Microorganisms that cause disease in host organisms, including bacteria, viruses, fungi, and parasites.