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A(n) ________ is a supporting schedule that supports a specific amount and is normally expected to tie the amount recorded in the client's records to another source of information.

A) reconciliation of amounts
B) analysis
C) summary of procedures
D) informational document

1 Answer

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Final answer:

A reconciliation of amounts is a supporting schedule that ties the amount recorded in the client's records to another source of information (A).

Step-by-step explanation:

A(n) reconciliation of amounts is a supporting schedule that supports a specific amount and is normally expected to tie the amount recorded in the client's records to another source of information. It is commonly used in accounting to ensure accuracy and identify any discrepancies. The reconciliation of amounts helps auditors or accountants verify the consistency and completeness of financial statements and can include bank reconciliations, accounts receivable reconciliations, or inventory reconciliations.

The student's question pertains to a supporting schedule that is used within the accounting and auditing field. The correct answer is A) reconciliation of amounts. A reconciliation of amounts is a process that compares two sets of records to ensure figures are accurate and consistent between them. It often involves matching the ledger balances with another source, such as a bank statement, to verify the accuracy of the financial records.

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