In working with the bank reconciliation and the bank cutoff statement, the auditor finds that many of the checks on the outstanding checklist did not clear during the cutoff period. This may be an indication of:
A) lapping.
B) kiting.
C) window dressing.
D) an attempt to conceal a cash shortage.
E) an attempt to overstate cash.

Question

Quizplus · Accepted Answer

The Answer of In working with the bank reconciliation and the bank cutoff statement, the auditor finds that many of the checks on the outstanding checklist did not clear during the cutoff period. This may be an indication of:
A) lapping.
B) kiting.
C) window dressing.
D) an attempt to conceal a cash shortage.
E) an attempt to overstate cash.

In Working with the Bank Reconciliation and the Bank Cutoff