A primary purpose of the proof of cash is to:
A) prevent fraud.
B) reconcile actual cash receipts and disbursements to budgeted receipts and disbursements.
C) investigate variances from expected cash balances.
D) ensure that all cash receipts recorded in the cash receipts journal were deposited in the bank account.
Correct Answer:
Verified
Q24: An imprest cash account is:
A)used for investing
Q25: Which of the following is not one
Q26: Which of the following controls would an
Q27: An auditor should trace interbank transfers for
Q28: The cashier of Brooke Company covered a
Q30: An auditor who is engaged to examine
Q31: Tracing a sample of remittance advices to
Q32: Which of the following procedures most likely
Q33: The auditor should insist that a representative
Q34: An auditor ordinarily should send a standard
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