Jones Was Engaged to Examine the Financial Statements of Virginia

question 59

Multiple Choice

Jones was engaged to examine the financial statements of Virginia Corporation for the year ended June 30. Having completed an examination of the investment securities, which of the following is the best method of verifying the accuracy of recorded dividend income?

• A)Tracing recorded dividend income to cash receipts records and validated deposit slips.
• B)Utilizing analytical procedures and statistical sampling.
• C)Comparing recorded dividends with amounts appearing on federal information forms 1099.
• D)Comparing recorded dividends with a standard financial reporting service's record of dividends.

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Definitions:

Delusional Behavior

Actions that are influenced by beliefs or ideas that are firmly held despite being contradicted by reality or rational argument, typically seen in various psychological disorders.

Token Economy

A behavioral modification system using tokens as reinforcement for desired behaviors, which can be exchanged for privileges or treats.

Unethical and Illegal

Activities or behaviors that are both morally wrong and against the law.

Token Economy

A behavior modification system that uses tokens as rewards for desirable behaviors, which can later be exchanged for privileges or items.