The Direct Receipt of a Confirmation from Every Bank with Which

question 60

Multiple Choice

The direct receipt of a confirmation from every bank with which the client does business is

• A) required by auditing standards for every audit.
• B) not necessary unless material fraud is suspected.
• C) recommended but not required by auditing standards.
• D) necessary for every audit except when there are an unusually large number of active accounts.

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Definitions:

Whites

A term often used to refer to people identified as belonging to a group characterized by light skin pigmentation, typically of European descent.

African Americans

Refers to a group within United States society with roots in the African continent, whose cultural, historical, and societal contributions are integral to the nation's fabric.

Unemployment Rates

The percentage of the labor force that is jobless and actively seeking employment.

Professional Jobs

Positions that require specialized knowledge and often advanced education in a defined career path.