The Primary Purpose of Sending a Standard Confirmation Request to Financial

question 1

Multiple Choice

The primary purpose of sending a standard confirmation request to financial institutions with which the client has done business during the year is to

• A) Detect kiting activities that may otherwise not be discovered.
• B) Corroborate information regarding deposit and loan balances.
• C) Provide the data necessary to prepare a proof of cash.
• D) Request information about contingent liabilities and secured transactions.

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Definitions:

Aorta

The largest artery in the body, originating from the left ventricle of the heart and extending down to the abdomen, where it splits into smaller arteries.

Phlebitis

Inflammation of a vein, usually in the legs, that can cause pain, swelling, redness, and sometimes leading to thrombosis.

Veins Inflammation

Also known as phlebitis, a medical condition characterized by the inflammation of the veins, leading to pain and swelling.

Artery Wall

The multilayered structure of arteries, designed to withstand high pressure from heartbeats and effectively transport blood away from the heart.