The primary purpose of setting a standard confirmation request to financial institutions with which the client has done business during the year is to a. Corroborate information regarding deposits and loan balances b. Provide the data necessary to prepare proof of cash c. Detect kiting activities that may otherwise not be discovered d. Request information about contingent liabilities and secured transactions
The primary purpose of setting a standard confirmation request to financial institutions with which the client has done business during the year is to a. Corroborate information regarding deposits and loan balances b. Provide the data necessary to prepare proof of cash c. Detect kiting activities that may otherwise not be discovered d. Request information about contingent liabilities and secured transactions
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The primary purpose of setting a standard confirmation request to financial institutions with which the client has done business during the year is to
a. Corroborate information regarding deposits and loan balances
b. Provide the data necessary to prepare proof of cash
c. Detect kiting activities that may otherwise not be discovered
d. Request information about
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