The cash balance is immaterial in many audits, but cash transactions affecting the balance are almost always extremely material.

Name: The cash balance is immaterial in many audits, but cash transactions affecting the balance are almost always extremely material.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Cash balances may not be material for some audits, but cash transactions that impact the balance can be material. Therefore, it is crucial to assess the significance of individual transactions rather than solely examining the cash balance.

The Cash Balance Is Immaterial in Many Audits, but Cash