Evidence of kiting is least likely to come from: A) bank transfer schedules. B) cash cutoff tests. C) tested reconciliations. D) confirmation of bank balances. E) bank cutoff statements.

Question

Quizplus · Accepted Answer

Kiting involves artificially inflating bank balances by creating false impressions of cash balances, which is done by taking advantage of the time it takes for checks to clear. Confirmation of bank balances typically involves verifying the actual cash available in the account at a specific point in time, which does not directly reveal the timing differences exploited in kiting schemes. The other options (A, B, C, E) are more directly involved in identifying timing differences or discrepancies that could indicate kiting.

Evidence of Kiting Is least Likely to Come From