An Auditor Reconciles the Total of the Accounts Receivable Subsidiary

question 48

Multiple Choice

An auditor reconciles the total of the accounts receivable subsidiary ledger to the general ledger control account, as at 30 June 2012. By this procedure, the auditor would be most likely to learn of which of the following?

• A) An April cheque from a customer was posted in error to the account of another customer with a similar name.
• B) An April invoice was improperly computed.
• C) An account balance is past due and should be written off.
• D) An opening balance in a subsidiary ledger account was improperly carried forward from the previous accounting period.

Grasp the concept of conditional mutations and their dependency on environmental conditions.

Understand the requirements and procedures for placing a stop-payment order on a check.

Recognize the standards banks must observe, such as ordinary care and good faith, in their operations.

Comprehend the legal responsibilities and rights of banks in cases of stop-payment orders and negligence claims.

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Definitions:

Women's Uniqueness

An approach recognizing and valuing the distinct characteristics, perspectives, and contributions of women in various spheres of life.

Sociological Feminists

focus on understanding the social constructions of gender roles and gender inequality.

Emancipatory Projects

Initiatives or movements aimed at freeing individuals or communities from social, political, or economic constraints, promoting autonomy and equality.

Privileging Accounts

The practice of giving priority or special value to certain interpretations or narratives over others.