During the Audit of EmpireAge,Inc

question 46

Multiple Choice

During the audit of EmpireAge,Inc. ,the auditor notes a large series of checks that does not clear for an unusually long time after period end.What may the auditor suspect from this observation?

• A)Vendors are eager to get their payments.
• B)The reconciliation is accurate.
• C)Cash does not exist.
• D)The presence of held-checks at period-end.

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Definitions:

Anemia

A condition marked by a deficiency of red blood cells or of hemoglobin in the blood, resulting in pallor and weariness.

Iron

A metallic element (Fe), crucial for biological processes and used in making steel and other alloys.

Canines

Sharp, pointed teeth located towards the front of an animal's mouth, used primarily for tearing food.

Incisors

The sharp, chisel-shaped front teeth that are used for cutting food. In humans, there are four incisors in each jaw.