Assurance of Cash

What assertion of "To ensure that there is no unrecorded cash"

• Existence

• Cut-off

• Detail tie-in

• Completeness

Cash is more susceptible to theft; therefore, there is high inherent risk for the (), (), and () objectives except:

• Existence

• Completeness

• Cut-off

• Accuracy

The following which is not fraud-related Audit Procedures :

• Test of detail of cash balances

• Proof of cash

• Test of kiting

• Test of lapping

What assertion for “Examine a sample of cash receipts and payments transactions for proper classification.”

• Classification

• Existence

• Valuation

• Completeness

__________by the client subsequent to the balance sheet date, but recorded as cash receipts in the current year

• Deposit

• Payments

• Cash received

• Bank balance

Purpose Of Auditing The Cash And Bank Balances

• To determine all cash received is properly recorded

• To ensure all disbursements are properly authorized and documented

• To recorded cash balances matches cash on hand or on deposit

• All above

_____ is the transferring of money from one bank to another and incorrectly recording the transaction

• Transfer

• Flipping

• Frauding

• Kiting

Which of the following procedures may uncover fraud in the cash receipts area?

• None of the above

• Deleting the receipts

• Aging of receipts

• Tests to detect lapping

Which account is included in each business cycle except inventory and warehousing?

• Accounts receivable

• Cash

• Accounts payable

• Common stock

To gather evidence regarding the balance per bank in a bank reconciliation, an auditor would easy examine all of the following except the:

• Bank confirmation

• Cutoff bank statement

• General ledger

• Year-end bank statement