An Unrecorded Check Issued During the Last Week of the Year

question 36

Multiple Choice

An unrecorded check issued during the last week of the year would most likely be discovered by the auditor when the

• A) Check register for the last month is reviewed.
• B) Cutoff bank statement is reconciled.
• C) Bank confirmation is reviewed.
• D) Search for unrecorded liabilities is performed.

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Definitions:

Government Interference

Refers to the involvement or actions by a government in market operations or the personal affairs of its citizens, often to correct market failures or protect public interests.

Planetary Management

A strategy or system for managing the Earth's resources and environment to ensure sustainability and balance between human needs and environmental protection.

Free-Market Global Economy

An economic system where prices for goods and services are determined by the open market and consumers, operating on a global scale without restrictive regulations.

Private Ownership

The legal right of individuals or entities to possess, use, and dispose of property without many restrictions from government entities.