During the testing of a year end bank reconciliation, an auditor noticed that the majority of checks listed as outstanding at year-end had not cleared the bank. Which of the following is a likely explanation?

	a.	The year-end cash disbursements records had been closed prior to year-end.
	b.	The year-end cash disbursements records had been held open past year-end.
	c.	A high probability of kiting.
	d.	A high probability of lapping.