In a manufacturing company, which one of the following audit procedures would give the least assurance for the existence of the general ledger balance of investment in stocks and bonds at the audit date?

Question

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Examination of canceled checks issued in payment of securities purchased would give the least assurance for the existence of the general ledger balance of investment in stocks and bonds at the audit date because it only confirms the purchase of the securities and not their existence at the balance date. The other options - confirmation from the broker, inspection and count of stocks and bonds, and reconciling information contained in the broker confirmation with the entity's investment record - provide stronger evidence regarding the existence of the investments at the balance date.

In a Manufacturing Company, Which One of the Following Audit