The standard bank confirmation includes a designated place for the financial institution to report which of the following?
A)Loans and collateral.
B)A reconciliation of the lockbox.
C)Cash held on consignment.
D)Maturity dates for certificates of deposit.

Question

Quizplus · Accepted Answer

The standard bank confirmation typically includes a section for the financial institution to report on loans and collateral held by the borrower. This is an important piece of information for auditors to verify the accuracy of the client's financial statements. The other options listed (B, C, and D) may also be included in a bank confirmation, but are not typically designated sections on the form.

The Standard Bank Confirmation Includes a Designated Place for the Financial