In an effort to satisfy the completeness objective,the auditor could perform which of the following test of details of balance procedures?
A) Trace the book balance on the reconciliation to the general ledger.
B) Trace outstanding cheques to subsequent period bank statements.
C) Obtain and test a cutoff bank statement.
D) Review financial statements to make sure that material savings accounts and certificates of deposit are disclosed separately.
Correct Answer:
Verified
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
Q20: Which of the following statements best describes
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
Q26: Serena is the assistant controller of Opus
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