How Will the Auditor Most Likely Utilize the Bank Reconciliation

question 65

Multiple Choice

How will the auditor most likely utilize the bank reconciliation as evidence in the audit of cash?

• A)The auditor sends the reconciliation to the bank for independent verification.
• B)The auditor performs the reconciliation for the client to record the proper cash balance.
• C)The auditor traces the book balance of the reconciliation to the cutoff bank statement.
• D)The auditor tests deposits in transit and outstanding items to other corroborating evidence.

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Definitions:

Ethnic Identity

A person's sense of belonging to a particular ethnic group, including aspects of culture, tradition, language, and heritage.

Contested Term

A term or concept that is subject to disagreement or debate regarding its definition, interpretation, or application.

Egalitarian Society

A societal structure where equality is emphasized, and individuals have equal rights and opportunities regardless of their background or characteristics.

Human Races

Social constructs that categorize humans into large and distinct populations or groups by ancestral origins and physical characteristics.