ABC Company Has 100 Shares of IBM Stock That Is

question 92

Multiple Choice

ABC Company has 100 shares of IBM stock that is held as an investment. The stock was purchased three years ago and has been in the client's safe deposit box along with other investment securities. During an inspection of securities held by the client, the auditor noted the 100 shares of IBM stock had a different CUSIP number than the number listed when purchased and the number verified during the previous audit. Which of the following would be the auditor's main concern about this discovery?

• A)The certificates in the safe deposit box were forgeries.
• B)There was unauthorized buying and selling of investment securities.
• C)The securities may be misclassified on the balance sheet.
• D)The securities were no longer owned by ABC Company.

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Definitions:

Multicultural Perspective

An approach that recognizes, acknowledges, and incorporates the diversity of cultures and experiences in understanding human behavior and social dynamics.

Presenting Concern

The initial issue or problem that leads a client to seek counseling or therapy services.

Psychosocial Developmental Stages

Erik Erikson's theory that individuals pass through eight stages from infancy to adulthood, each characterized by a specific psychological crisis.

Core Dynamic Patterns

Fundamental behavioral, emotional, or thought patterns that significantly shape an individual's personality or actions.