Which of the Following Represents a Normal Substantive Audit Procedure

question 34

Multiple Choice

Which of the following represents a normal substantive audit procedure for cash balances?

• A)Verify material deposits-in-transit to subsequent statements.
• B)Review cash confirms received by the client from the bank.
• C)Foot cutoff bank statements provided by the financial institutions.
• D)Perform kiting techniques to transfer cash between two client accounts.

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Definitions:

Informal Agreement

An understanding or arrangement that is not formally documented but is recognized and respected by those involved.

Terms and Conditions

The set of rules and policies that govern employment contracts, including work hours, salaries, benefits, and job responsibilities.

Bargain Collectively

The process by which workers, through their unions, negotiate with their employers to establish the terms of employment, including wages, benefits, and working conditions.

U.S. Businesses

Companies operating within the United States, subject to U.S. business laws, regulations, and economic policies.