Which of the Following Procedures Should an Accountant Perform During

question 2

Multiple Choice

Which of the following procedures should an accountant perform during an engagement to review the financial statements of a private company?

• A)Communicate internal control system weaknesses that were discovered during the assessment of control risk.
• B)Obtain a letter of representation signed by top-level management.
• C)Send bank confirmations to the company's financial institutions.
• D)Examine cash disbursements in the subsequent period for evidence of unrecorded liabilities.

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Definitions:

Embarrassed

A feeling of self-consciousness, shame, or awkwardness.

Remember

The cognitive process of recalling information or experiences that were previously encoded and stored in the brain.

Address

The specific location or digital identification where someone lives or an organization is situated, or a means to direct a message or communication.

Encoding Failure

The inability to recall specific information because it was not stored properly in the memory in the first place.