Which of the following statements best describes the position of cash on the balance sheet at most organizations that utilize effective cash management practices?
A) Cash is usually immaterial.
B) Cash is usually highly material.
C) Cash is usually dispersed among many different accounts.
D) Cash is usually affected by many different capital asset accounts.
Correct Answer:
Verified
Q15: A)Describe each of the major types of
Q16: Certain types of misstatements that affect cash
Q17: The general cash account is considered significant
Q18: The auditor has examined the financial statements,particularly
Q19: When are short-term investments that are readily
Q21: In an effort to satisfy the completeness
Q22: The reason for testing the client's bank
Q23: Bank reconciliations are normally verified on a
Q24: The starting point for the verification of
Q25: The test of details for cash balances
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents