The control of all funds during the count of cash on hand is meant primarily to prevent:
A) any chance of double counting.
B) transfers by the entity's personnel of counted to uncounted funds
C) unauthorised disbursements.
D) cash going missing
Correct Answer:
Verified
Q1: The account balance audit objective, "Year-end transfers
Q2: Which of the following would not normally
Q3: Audit tests to detect lapping involve which
Q4: In working with the bank reconciliation and
Q5: The practice where a cheque is paid
Q7: During the count of cash on hand,
Q8: If the petty cash account is tested
Q9: Which of these combinations is a
Q10: The starting point for verifying cash balances
Q11: The auditor should trace bank transfers
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