If the petty cash account is tested in detail by the auditor, it is usually because:
A) it is always material.
B) it is quickly and easily tested.
C) of the possibility of unrecorded disbursements.
D) the company requested a petty cash audit.
Correct Answer:
Verified
Q3: Audit tests to detect lapping involve which
Q4: In working with the bank reconciliation and
Q5: The practice where a cheque is paid
Q6: The control of all funds during the
Q7: During the count of cash on hand,
Q9: Which of these combinations is a
Q10: The starting point for verifying cash balances
Q11: The auditor should trace bank transfers
Q12: In performing analytical procedures in the cash
Q13: Audit evidence for share holdings on the
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