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The Starting Point for Verifying Cash Balances Is To

Question 10

Multiple Choice

The starting point for verifying cash balances is to:


A) review the current period's activity in the general ledger cash accounts for any significant entries that are unusual.
B) determine the mathematical accuracy of cash balances in the general ledger.
C) trace the current period's opening balances to the closing audited balances in the previous year's working papers.
D) obtain any schedules that might have been prepared by the entity showing undeposited cash receipt summaries.

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