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Your client has the following control over cash disbursements: The payment applications are sequentially numbered. These application form runs are reviewed for any missing or
Your client has the following control over cash disbursements:
The payment applications are sequentially numbered. These application form runs are reviewed for any missing or unusual items eg voids, rejected numbers, duplicate numbers etc. Missing
or unusual items are investigated and resolved on a timely basis.
What financial statement assertions would this control typically cover that would be related to cash disbursements?
Presentation and disclosure, cutoff.
Existenceoccurrence completeness.
Accuracy, cutoff.
Accuracy
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