Auditors Are Likely to Prepare a Proof of Cash When

question 65

Multiple Choice

Auditors are likely to prepare a proof of cash when the client has

• A) material internal control weaknesses in cash.
• B) material internal control weaknesses in accounts receivable and revenue.
• C) material internal control weaknesses in accounts payable and inventory.
• D) material internal control weaknesses in payroll.

---

Definitions:

GDP

The comprehensive market or monetary value of all goods produced to their completion and services provided within a country's borders during a particular timeframe is described as Gross Domestic Product.

Average Workweek

The average number of hours worked per week by employees in a particular sector or economy.

GDP

The Gross Domestic Product encompasses the entire monetary or market-based valuation of all finished outputs and services engendered within a country's boundaries over a fixed time period.

GDP Deflator

The GDP deflator is an economic metric that converts output measured at current prices into constant-dollar GDP, reflecting changes in the price level of all domestically produced goods and services in an economy.