Which of the Following Is the Primary Reason the Auditor

question 43

Multiple Choice

Which of the following is the primary reason the auditor obtains and reviews a cutoff bank statement?

• A)Verify the balance of cash per the bank's general ledger at the balance sheet date.
• B)Verify the reconciling items on the year-end bank reconciliation.
• C)Test for intentional lapping of bank transfers.
• D)Foot the cutoff bank statement for completeness.

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Definitions:

Empowerment

Process by which a manager shares power with team members, thereby enhancing their feelings of self-efficacy.

Self-managed Work Team

A group of employees who are responsible for managing and controlling all or most aspects of their work without direct supervision.

Empowerment

A process through which individuals gain control, authority, and influence over their personal, workplace, or community situations.

Motivate

To provide with a reason or incentive to act or accomplish something.