The Assertions by Management Regarding the Cash Accounts in the Financial

question 27

Multiple Choice

The assertions by management regarding the cash accounts in the financial statements include all of the following except

• A) Cash in all accounts exists in the name of the company.
• B) Proper internal control activities exist for all cash accounts.
• C) Cash balance properly reflects all cash on hand, in transit, or on deposit with third parties.
• D) All restrictions on the use of cash are disclosed.

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Definitions:

Avoidant

Characterized by a tendency to avoid social interactions or situations that might lead to negative judgments, criticism, or rejection.

Medicare Fraud

The act of making false statements or misrepresenting facts to obtain payment from the federal Medicare program unlawfully.

Lack of Guilt

The absence of feelings of responsibility or remorse for one's actions or behaviors.

Antisocial Personality Disorder

Antisocial Personality Disorder is a mental condition in which a person shows a long-term pattern of manipulating, exploiting, or violating the rights of others.