Which of the Following Is Not an Example of a Substantive

question 33

Multiple Choice

Which of the following is not an example of a substantive test of cash payments transactions?

• A) Test the account classifications of cash payments
• B) Account for the numerical sequence of cheques issued during a specified period
• C) Test the mathematical accuracy of the cash receipts ledger
• D) Determine whether the signatures on paid cheques are authorised

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Definitions:

Earned Income Tax Credit

A refundable tax credit for low- to moderate-income working individuals and families, especially those with children.

Minimum Wage Laws

Regulations that dictate the lowest legal hourly compensation employers must pay their workers.

Minimum Wage

The lowest wage rate that employers can legally pay their workers, established by government regulation.

Employment Level

A measure indicating the number of people currently employed in an economy, typically not including those self-employed.