In Addition to Confirming Bank Balances of Your Audit Client

question 1

Multiple Choice

In addition to confirming bank balances of your audit client, a bank confirmation would normally contain

• A) the client's bank loans with due date, interest rate, and collateral requested.
• B) the client's credit history as regards to paying back loans.
• C) the client's managements bank account information.
• D) the client's business prospects.

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Definitions:

Dependent Variable

The variable in an experiment or study that is affected by changes in the independent variable.

F Test

A statistical test used to compare two variances and determine if they are significantly different from each other.

Regression Analysis

A statistical method for examining the relationships between dependent and independent variables.

Sales Data

Information collected about sales transactions, including volume, value, trends, and customer preferences.