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When the Auditor Recomputes the Unexpired Portion of Prepaid Insurance

question 94

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When the auditor recomputes the unexpired portion of prepaid insurance, she is satisfying which audit objective?


Definitions:

Share Draft Account

A type of checking account in credit unions that allows the account holder to access funds through checks (drafts) or electronic means.

Checking Account

Money stored in an account at a bank or other financial institution that can be withdrawn without advance notice; also called a demand deposit.

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