Which of the Following Substantive Tests of Cash Account Balances

question 21

Multiple Choice

Which of the following substantive tests of cash account balances are always performed?

• A) Test cut-off of cash receipts, cash payments and transfers at year-end
• B) Confirm cash held by others
• C) Examine the client's bank reconciliations
• D) All of the above

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Definitions:

Seasonal Variation

Refers to periodic fluctuations in data or variables that are related to seasonal changes.

Deseasonalized Time Series

Time series data which has been adjusted to remove the effects of seasonal variations.

Seasonal Indexes

A set of numerical values used to adjust for seasonal effects in time series data, allowing for more accurate comparisons across different times of the year.

Seasonal Variation

Refers to periodic fluctuations in data or processes that occur at regular intervals over a year, influenced by the seasons.