Which of the Following Is One of the Better Auditing

question 37

Multiple Choice

Which of the following is one of the better auditing techniques that might be used by an auditor to detect kiting between intercompany banks?

• A)Review the composition of authenticated deposit slips.
• B)Review subsequent bank statements received directly from the banks.
• C)Prepare a schedule of bank transfers.
• D)Prepare year-end bank reconciliations.

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Definitions:

Coal Deposits

Geological formations containing coal in significant quantities, which can be mined for fuel and other uses.

Foreign Source

Originating from a country or place other than one's own; in information or materials context, it refers to sources from outside the domestic or local scope.

Capital

Financial assets or the financial value of assets, such as cash and buildings, used by a business to produce goods or services.

Industrial Development

The process of establishing and growing industries in a region, often leading to economic growth and societal changes.