During the Count of Cash on Hand, It Is Not

question 15

Multiple Choice

During the count of cash on hand, it is not necessary for the auditor to:

• A) insist on the presence of an internal auditor throughout the count.
• B) insist on the presence of the custodian of the cash throughout the count.
• C) obtain a signed receipt from the custodian on return of the funds.
• D) ascertain that all undeposited funds are payable to the order of the client, either directly or through endorsement.

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Definitions:

Marketing Strategy

A long-term plan designed by a business to achieve specific marketing-related goals and objectives through a thorough understanding of the market and customers.

Product Concepts

Theories and practices concerning how products are conceived, designed, produced, and marketed to meet consumer needs and expectations.

Design Thinking

A methodology used for solving complex problems and finding desirable solutions for clients. It draws upon logic, imagination, intuition, and systemic reasoning, to explore possibilities of what could be and to create desired outcomes that benefit the end user.

Human-Centric

An approach that places human values, needs, and well-being at the center of decision-making and development processes.