Question
A check was written by an audit client on December 27 but not deposited until January 4. On the bank reconciliation of the audit client,
A check was written by an audit client on December 27 but not deposited until January 4. On the bank reconciliation of the audit client, this item would show up as which of the following:
Group of answer choices
A negative adjustment to the book balance, thus reducing it to the bank balance.
A negative adjustment to the bank balance, thus reducing it to the book balance.
None of these answers is correct.
A positive adjustment to the bank balance, thus increasing it to the book balance.
An audit firm is testing the depreciation expense of the client. Which of the following tests would be the most persuasive?
Group of answer choices
Recalculation of Depreciation Expense
Physical Examination of Fixed Assets
Inspection of Documents Related to Fixed Asset Additions
Confirmation of Fixed Assets
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