Which of the Following Procedures Does the Auditor Typically Perform

question 77

Multiple Choice

Which of the following procedures does the auditor typically perform when testing the existence of cash?

• A)Counting cash at the depository institution.
• B)Inquiry of management.
• C)Sending a standard bank confirmation.
• D)Tracing the bank reconciliation to the general ledger.

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Definitions:

Cost Driver

A factor that causes the cost of an activity or process to change.

Time Frame

The period during which an event occurs or is planned to occur, often with a specified start and end date.

Cost Data

Information related to the amounts incurred to create a product or service, used for budgeting, valuing inventory, and setting selling prices.

Cost Estimation Methods

Techniques used to predict the costs associated with the production of a product, project, or operation.