Substantive Procedures for the Audit of Cash Would Include Which

question 43

Multiple Choice

Substantive procedures for the audit of cash would include which of the following?

• A)Ask that a cutoff bank statement be mailed directly to the client.
• B)Enquire if the client has prepared bank reconciliations for all bank accounts on a monthly basis.
• C)Prepare a schedule of inter-bank transfers for a period of ten business days before and after year-end date.
• D)Obtain written descriptions from the client about its cash receipts procedures.

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Definitions:

Protein

Large biomolecules, or macromolecules, consisting of one or more long chains of amino acid residues, vital for body structure and function.

Fat Metabolism

The biochemical process involving the breakdown, synthesis, and transformation of fats in the body for energy and cellular functions.

Pituitary

A tiny gland at the base of the brain responsible for regulating vital bodily functions and general well-being through the secretion of hormones.

Master Gland

Informal term for the pituitary gland, due to its role in controlling several other hormone-secreting glands in the body.