Which of the Following Represents a Typical Substantive Audit Procedure

question 68

Multiple Choice

Which of the following represents a typical substantive audit procedure for cash balances?

• A)Verify material deposits in transit to subsequent statements.
• B)Review cash confirmations received by the client from the bank.
• C)Foot cutoff bank statements provided by the financial institutions.
• D)Perform kiting techniques to transfer cash between two client accounts.

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Definitions:

Family

A social unit consisting of parents and their children, considered as a group, whether dwelling together or not.

Predominant Role

The most important or influential position in a particular context or scenario.

Subsistence

A mode of livelihood in which communities sustain themselves with minimal reliance on external trade, often by farming, fishing, or hunting.

Residence

A place where a person lives or has their home.