Auditors Tests of the Client's Bank Reconciliation Is Done to Verify

question 90

Multiple Choice

Auditors tests of the client's bank reconciliation is done to verify whether the client's recorded bank balance is the same amount as the actual cash in the bank. Which of the following would not explain a difference between the company's cash balance and the bank's balance for the client?

• A) Deposits in transit
• B) Cash collected on a Note Receivable by the bank
• C) Other reconciling items
• D) Outstanding checks

Analyze the financial implications of changes in product features or costs.

Calculate target profit and the necessary sales in units and dollars to achieve it.

Recognize key figures and their contributions to Golden Age Hollywood films.

Understand the relationship between Hollywood and government regulations during the late 1930s and World War II.

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Definitions:

Floating-Rate Bonds

Bonds whose coupon payment may vary over time. The coupon rate is usually linked to the rate on some other security, such as a government bond, or to some other rate, such as the prime rate or LIBOR.

Inflation

The rate at which the general level of prices for goods and services is rising and, subsequently, purchasing power is falling.

Interest Rates

The rate at which a lender charges a borrower for asset usage, calculated as a percentage of the principal sum.

Market Value

The current price at which an asset or service can be bought or sold in a marketplace.