In Performing Tests of Controls Over Authorization of Cash Disbursements,which

question 3

Multiple Choice

In performing tests of controls over authorization of cash disbursements,which of the following statistical sampling methods would be most appropriate?

• A)Variables.
• B)Stratified.
• C)Ratio.
• D)Attributes.

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Definitions:

Consumers

Individuals or groups who purchase goods and services for personal use.

Clearing House Interbank Payments System

An electronic payment system operated by major banks for the purpose of settling transactions among themselves.

Society of Worldwide Interbank Financial Telecommunications

An international organization that provides a network for financial institutions globally to send and receive information about financial transactions.

Client Accounts

Financial accounts held by a financial institution on behalf of its clients, often used for the safekeeping of money, securities, or other assets.