All corporate capital stock transactions should ultimately be traced to the A

All corporate capital stock transactions should

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69.All corporate capital stock transactions should ultimately be traced to the A. Minutes of the meetings of the board of directors.B. Cash receipts journal.C. Cash disbursements journal.D. Numbered stock certificates.70.An audit plan for the examination of the retained earnings account should include a step that requires verification of the 71.When an entity uses a trust company as custodian of its marketable securities, the possibility of concealing fraud most likely would be reduced if the 72.An audit team would most likely verify the interest earned on bond investments by 73.A client has a large and active investment portfolio that is kept in a bank safe deposit box. If the auditors are unable to count securities at the balance-sheet date, they most likely will A.Request the bank to confirm to the auditors the contents of the safe deposit box at the balance-sheet date.B. Examine supporting evidence for transactions occurring during the year.C. Count the securities at a subsequent date and confirm with the bank whether securities were added or removed since the balance-sheet date.D.Request the client to have the bank seal the safe deposit box until the auditors can count the securities at a subsequent date.74.An audit team testing long-term investments would ordinarily use analytical procedures to ascertain the reasonableness of the
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  • Spring '12
  • janigrt
  • Financial audit, investment cycle

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