When There Is a Large Number of Negotiable Securities in Multiple

question 18

Multiple Choice

When there is a large number of negotiable securities in multiple locations, careful planning of the physical inspection and count of the securities by the auditor is necessary to guard against

• A) Unauthorized negotiation of the securities before they are counted.
• B) Unrecorded sales of securities after they are counted.
• C) Substitution of securities already counted at one location for other securities that should be on hand at a different location but are not.
• D) Substitution of authentic securities with counterfeit securities.

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