(a)
Introduction:
A
To choose: The
(b)
Introduction:
A bank reconciliation statement is prepared to tally the balance in a bank account with that of the company’s financial record. It is helpful in detecting errors and determining the actual bank balance on a specific date.
To choose: The audit procedure for gathering appropriate evidence for ‘balance as per books’.
(c)
Introduction:
A bank reconciliation statement is prepared to tally the balance in a bank account with that of the company’s financial record. It is helpful in detecting errors and determining the actual bank balance on a specific date.
To choose: The audit procedure for gathering appropriate evidence for ‘deposit in transit’.
(d)
Introduction:
A bank reconciliation statement is prepared to tally the balance in a bank account with that of the company’s financial record. It is helpful in detecting errors and determining the actual bank balance on a specific date.
To choose: The audit procedure for gathering appropriate evidence for ‘customers’ note collected by bank’.
(e)
Introduction:
A bank reconciliation statement is prepared to tally the balance in a bank account with that of the company’s financial record. It is helpful in detecting errors and determining the actual bank balance on a specific date.
To choose: The audit procedure for gathering appropriate evidence for ‘outstanding checks’.
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Chapter 10 Solutions
Auditing: A Risk Based-Approach to Conducting a Quality Audit
- The bank reconciliation revealed that one deposit had cleared the bank two weeks after the date of the deposit. Should this be of concern? Why, or why not?arrow_forwardWhich of the following items are found on a book side of the bank reconciliation? A. beginning bank balance B. outstanding checks C. interest income D. error made by bankarrow_forward
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