In Conducting Analytical Procedures, Which of the Following Information Sources

question 10

Multiple Choice

In conducting analytical procedures, which of the following information sources are not generally considered to be reliable?

• A) Audited information
• B) Information generated by an accounting system with ineffective internal controls
• C) Information generated using consistent accounting methods
• D) Information generated by an accounting system with effective internal controls

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Definitions:

Check Drawn

A check issued by an account holder, instructing the bank to pay a specified sum of money from the account holder's account.

Payment of a Voucher

The process of issuing money in return for a voucher that proves an expense has been incurred.

Bank Reconciliation

The process of matching and comparing figures from accounting records against those presented on a bank statement.

Outstanding Checks

Checks that have been written and recorded in the issuing account but have not yet been cashed or cleared by the bank.