Question

An auditor may obtain information on the December 31 month-end balance per bank in which of the following?

December 31 Bank Statement Schedule of
Bank (Cash) Transfers
A. Yes Yes
B. Yes No
C. No Yes
D. No No

Answer 1

An auditor may obtain information on the December 31 month-end balance per bank in the bank statement and the schedule of bank transfers.

Step-by-step explanation:

The correct answer is A. Yes Yes.

An auditor may obtain information on the December 31 month-end balance per bank in the December 31 Bank Statement as well as in the Schedule of Bank (Cash) Transfers.

In the December 31 Bank Statement, the auditor can find the transactions and balances of the bank account for that specific date. The Schedule of Bank (Cash) Transfers will provide information on any cash transfers that have occurred between various accounts.