An Auditor Compares Information on Canceled Checks with Information Contained

question 20

Multiple Choice

An auditor compares information on canceled checks with information contained in the cash disbursements journal. The objective of this test is to determine that

• A) Recorded cash disbursement transactions are properly authorized.
• B) Proper cash purchase discounts have been recorded.
• C) Cash disbursements are for goods and services actually received.
• D) No discrepancies exist between the data on the checks and the data in the journal.

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Definitions:

Collectivist Nature

A cultural characteristic where people prioritize group goals over individual interests.

Long-Term Orientation

A cultural dimension that describes a society's time horizon, focusing on future rewards, perseverance, and savings.

Legal System

The comprehensive system of rules and principles of a society that are recognized as binding and enforced by authorities.

Religious Scriptures

The sacred writings or holy texts of a religion, which convey spiritual truths, moral codes, and teachings integral to the faith's beliefs and practices.