For Purposes of an Audit of Financial Statements,electronic Confirmation of Cash

question 48

Multiple Choice

For purposes of an audit of financial statements,electronic confirmation of cash balances:

• A)Is acceptable when properly controlled.
• B)Is acceptable,but only when combined with a non-electronic approach.
• C)Is only acceptable for immaterial accounts.
• D)Is not acceptable.

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Definitions:

Mammy

A stereotypical image of a black woman, depicted as devoted and submissive, serving her white employers.

Stereotype Threat

The risk of confirming negative stereotypes about one’s social group, which can impair performance and contribute to disparities.

Threatened Domain

An area or aspect of an individual's life or identity that feels at risk or under attack, causing stress or defensive reactions.

Positive Stereotypes

Generalizations about a group that are seen in a positive light, but can still have restrictive effects by limiting individual expression.