52 An analytical procedure related to the substantive resting of com halvesting of cash balances expectatio n as a percent of total assets and compare with auditor would be to A calculate cash as a percen *pectations B, calculate cash as a percent auditor expectations C. Send notes payable confirmations to creditors send confirmations to the client firm's stockholders cash as a percent of total assets and compare with intema 53. s of details of cash balances, the auditor before proceeding with tests of details of cash balancos, should A. attempt to confirm cash balances with the firms' creditors re that an understanding has been obtained regarding the audio 18 onvironment and the importance of cash balances to the m y C. ensure that an understanding has been obtained regarding the and its environment and the importance of cash balances to the end D. issue a tentative audit opinion related to cash 54. Which of the following include cash in the bank, such as the primary bank account of the company? A. Cash and cash equivalents B. Transaction classes C. Disclosures D. Debt assets 55. For companies that purchase goods on account, the transaction should A. record purchases and accounts payable upon ordering of the goods B. record purchases and accounts payable upon the receipt of goods C. be input into the ledger by the auditor once it has been reviewed D. overstate equity until the goods are paid for 56. If a company receives goods but waits to record the transaction until a vendor's invoice is received, - A. purchases and accounts payable will be understated B. purchases and accounts payable will be overstated C. purchases will be overstated and accounts payable will be understated D. purchases will be understated and accounts payable will be overstated