A partial-period bank statement and the related canceled checks, duplicate deposit slips, and other documents included in bank statements, mailed by the bank directly to the CPA firm's office, is called:
A)a four-column proof of cash.
B)a year-end bank statement.
C)a cutoff bank statement.
D)a short-period bank statement.

Question

Quizplus · Accepted Answer

A cutoff bank statement is a partial-period bank statement sent directly to the auditor to verify reconciling items and transactions around the period-end.

A Partial-Period Bank Statement and the Related Canceled Checks, Duplicate