This topic contains a solution. Click here to go to the answer

Author Question: When the auditor believes the year-end bank reconciliation may be intentionally misstated, it is ... (Read 43 times)

xsk4r3kr0w

  • Full Member
  • ***
  • Posts: 146

Question 1

The process of transferring money from one bank account to another and improperly recording the transaction is referred to as
◦ kiting.
◦ lapping.
◦ scamming.
◦ embezzling.

Question 2

When the auditor believes the year-end bank reconciliation may be intentionally misstated, it is appropriate to perform extended tests of the year-end bank reconciliation. Assuming the client has an October 31 year-end, these extended tests would not include
◦ comparing all September 30 reconciling items with canceled checks and other documents in the October bank statement.
◦ comparing all canceled checks and deposit slips in the October bank statement with the October cash disbursements and receipts records.
◦ carrying out all proper procedures subsequent to the end of the year with the use of the bank cutoff statement.
◦ determining that all outstanding checks had cleared by the date of the bank cutoff statement.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by xsk4r3kr0w on Aug 21, 2022

annaelena92

  • Full Member
  • ***
  • Posts: 167
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly




xsk4r3kr0w

  • Member
  • Posts: 146
Reply 2 on: Aug 21, 2022
Excellent


AmberC1996

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

For a complete list of videos, visit our video library