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Which one of the following is a reason that the cash account is material to the auditor? Question 1 answers a. The cash
Which one of the following is a reason that the cash account is material to the auditor?
Question 1 answers
a. The cash account is the culmination of transactions that are of little significance.
b. The cash account is more susceptible to fraud than most other accounts
c. Many debt or loan agreements may be tied to dividend restrictions
d. Automated systems may have strong electronic controls built-in
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