The Statement That Is Not True Concerning the Confirmation of Securitiheld

question 50

Multiple Choice

The statement that is not true concerning the confirmation of securitiheld by outsiders for safe keeping is;

• A) either positive or negative confirmations can be used.
• B) confirmations should be requested as of the date other securities are counted.
• C) the auditor should receive responses directly from the custodian.
• D) the data confirmed are the same as the data that should be noted when the auditor is able to inspect the securities.

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Definitions:

Minor Frustrations

Small, often daily, annoyances or irritations that can accumulate and affect mood or well-being.

Realistic Optimists

Individuals who maintain a positive outlook on life while still being grounded in reality, acknowledging potential obstacles and planning accordingly.

Passive Problem Solving

An approach to resolving issues where individuals avoid direct confrontation or active attempts to change a situation, often hoping the problem resolves on its own.

Locus Of Control

A general expectation about whether the results of your actions are under your own control (internal locus) or beyond your control (external locus).