An auditor may obtain information on the December 31 month-end balance per bank in which of the following? $$\begin{array} { | c | c | c | }
\hline & \begin{array} { c }
\text { Standard } \
\text { Confirmation } \
\text { Form }
\end{array} & \begin{array} { c }
\text { January } \
{ 1 - 1 0 } \
\text { Cutoff } \
\text { Statement }
\end{array} \
\hline \text { A. } & \text { Yes } & \text { Yes } \
\hline \text { B. } & \text { Yes } & \text { No } \
\hline \text { C. } & \text { No } & \text { Yes } \
\hline \text { D. } & \text { No } & \text { No } \
\hline
\end{array}$$

Question

An auditor may obtain information on the December 31 month-end balance per bank in which of the following? $$\begin{array} { | c | c | c | } 
\hline & \begin{array} { c } 
\text { Standard } \
\text { Confirmation } \
\text { Form }
\end{array} & \begin{array} { c } 
\text { January } \
{ 1 - 1 0 } \
\text { Cutoff } \
\text { Statement }
\end{array} \
\hline \text { A. } & \text { Yes } & \text { Yes } \
\hline \text { B. } & \text { Yes } & \text { No } \
\hline \text { C. } & \text { No } & \text { Yes } \
\hline \text { D. } & \text { No } & \text { No } \
\hline
\end{array}$$

Quizplus · Accepted Answer

The auditor can obtain the December 31 month-end balance per bank from both the standard confirmation form and the January 1-10 cutoff statement. The standard confirmation form provides direct confirmation from the bank, while the cutoff statement includes transactions around the year-end, which can help verify the balance.

An Auditor May Obtain Information on the December 31 Month-End