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& Look, for whom_ moving obsolete or damaged Inventory;
1 5 But hit 1. 5 points
< The Full account is stunificant to the auditor for which of the following reasons ?
ANDwork Investors want the company to hold as much cash as possible
`Cush is susceptible to Fraud such its theft
[ The Ending balance of cash account is usually very high
` Cash has how liquidity
} } but `t 2. 5 print .
Which of the falling inc is the primary reason the auditor obtains and reviews & cutoff
kuznik, statement !`
Answers & Text for intentional lapping of bank transfers
6. Fast the culaft think statement for completeness
c. Verify the balance of cash per the bank's general ledger at the balance
` Verify the reconciling items in the year-end bank reconciliation
& out of2. 5 points
To verify The value of Apple stock held by the client and classified as trading*
Securities , auditors need in
ANSWER: a Check the original purchasing documents of the stuck
`. Check the original purchasing documents of the stock as well As the
payment record from the bank
c. Check public wichsite for the stock price at the day of the windis purina
* Check public web site for the stock price at the day when auditors
arrive at the client
2 9 out of 2. 5 point`
Which of the following statements about auditing cash account is the ?"
ANSWER` `Banks are responsible for the ending balance of deposits If they
Tespond to auditors' bank confirmation*...
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- Fall '10
- Balance Sheet, Exam 2, English-language films, Cheque, Financial audit