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:

Coal

A combustible black or brownish-black sedimentary rock, formed as rock strata called coal seams, used primarily as a fuel.

Starting Material

The raw substances or components that are used as the basis for a chemical reaction or manufacturing process.

Limestone

A sedimentary rock composed mainly of skeletal fragments of marine organisms such as coral, forams, and mollusks.

Gas Centrifuges

Devices used in the uranium enrichment process that rapidly spin gas to separate isotopes, particularly to increase the percentage of uranium-235 for use in nuclear reactors or weapons.