An unrecorded cheque issued during the last week of the year would most likely be discovered by the auditor when the ________.
A) bank confirmation is reviewed
B) cutoff bank statement is reconciled
C) search for unrecorded liabilities is performed
D) cheque register for the last month is reviewed
B) cutoff bank statement is reconciled
You might also like to view...
Cell phone manufacturer LZT has to choose between two options for sourcing parts: Japan-based Keiko Inc. and US-based Global Tech. How can Keiko reduce the total customer cost for LZT?
What will be an ideal response?
Financing a business means obtaining funds so the business can begin and continue operating
Indicate whether the statement is true or false
Consider the adjacent work stations in this two card Kanban system. Work Center 3 has just pulled the Incoming Parts C box to their work station. Which of these statements is best?
A) The move card will move backward from Work Center 3 to Work Center 2. B) The production card will move backward from Work Center 3 to Work Center 2. C) The move card will move forward from Work Center 3 to Work Center 4. D) Despite its name, the move card doesn't actually move from one station to the next, it will simply reside at Work Center 3 until the next box is finished.
A principal-agent contract
a. must be in writing if it involves the sale of real estate. b. must be in writing if the relationship is to last for less than one year. c. never needs to be in writing. d. must always be in writing.