QUESTION 62

1. An imprest petty cash fund would least likely be used to pay for which of the following items?

   	a.	minor office supplies
   	b.	monthly interest expense
   	c.	small contributions to a local charity
   	d.	stamps for small mailings

2 points

QUESTION 63

1. The audit objective of determining that cash in bank, as stated on the reconciliation, foots correctly and agrees with the general ledger can be tested by which of the following procedures?

   	a.	performing tests for kiting
   	b.	receiving and testing a cutoff bank statement
   	c.	proving the bank reconciliation as to additions and subtractions, including all reconciling items
   	d.	examining the minutes of the board of directors for restrictions on the use of cash