1. Tests of details of balances for investment balance assertions include all of these except:

a.) Inspect and count securities on hand

b.) Confirm securities held by others

c.) Vouch entries in investment and related income and equity accounts

d.) Recalculate investment revenue earned

2. Lapping is an irregularity that results in the deliberate misappropriation of cash receipts, either temporarily or permanently, for the personal use of the individual perpetrating the unauthorized act.

True or false