Answered: vents or conditions that may cast doubt…

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter10: Auditing Cash, Marketable Securities, And Complex Financial Instruments

Section: Chapter Questions

Problem 13RQSC

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Question

Events or conditions that may cast doubt on a bank's ability to continue as a going concern
include |. Significant decreases in deposits from other banks or other forms of short term
money market funding II. Significant losses for two consecutive years III. Rates of interest being
paid on money market and depositor liabilities that are higher than normal market rates

a. I, II and III
b. I and II only
c. II and III only
d. I and III only

Definition Definition Financial market that deals in securities or assets that are short-term in nature. The money market is responsible for keeping up the liquidity of the businesses and the organizations. These securities are usually held for a period of 12 months or less and are issued by institutions that require cash or funds for their short-term cash flow requirements. The money market is regulated by the federal government.

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