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an internal control over cash receipts and disbursements, should be prepared on a monthly basis and not only at the end of the annual period. True or false. A compensating balance that is legally restricted as to withdrawal can be included as part of cash and cash equivalents

an internal control over cash receipts and disbursements, should be prepared on a monthly basis and not only at the end of the annual period. True or false. A compensating balance that is legally restricted as to withdrawal can be included as part of cash and cash equivalents

Auditing: A Risk Based-Approach (MindTap Course List)
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter10: Auditing Cash, Marketable Securities, And Complex Financial Instruments
Section: Chapter Questions
Problem 27CYBK
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True or False. The bank reconciliation, as an internal control over cash receipts and disbursements, should be prepared on a monthly basis and not only at the end of the annual period. True or false. A compensating balance that is legally restricted as to withdrawal can be included as part of cash and cash equivalents.
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