The auditor uses a proof of cash to determine whether:

Question

Quizplus · Accepted Answer

A proof of cash is used to verify whether the company's cash balance as per the bank statement is reconciled with the company's cash balance as per its own accounting records. Choice A contains a unique identifier for a proof of cash, which involves comparing the company's bank deposits, withdrawals, and any other bank transactions to those recorded in its accounting records. Choices B, C, and D do not provide relevant information about the purpose of a proof of cash.

The Auditor Uses a Proof of Cash to Determine Whether