Confirmations for Cash Balances Should Be Mailed Only to the Financial

question 40

True/False

Confirmations for cash balances should be mailed only to the financial institutions with which the client has a cash balance at year-end.

---

Definitions:

Mixed Numbers

Numbers consisting of an integer and a fraction together, representing a value greater than or equal to one.

Improper Fractions

A type of fraction where the numerator (top number) is greater than or equal to the denominator (bottom number), resulting in a value equal to or greater than one.

Lowest Terms

The most basic version of a fraction, in which both the top number (numerator) and bottom number (denominator) are minimized to their lowest possible values.

Mixed Numbers

Numbers that contain both an integer and a fraction part.