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Accounting

By preparing a four-column bank reconciliation ("proof of cash") at year-end, an auditor will generally not be able to detect:

a. An unrecorded deposit made at the bank at the end of the month.

b. A second payment of an account payable which had already been paid in full two months earlier.

c. An unrecorded check cashed during that month.

d. A bank charge during the month not recorded on the books.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9402915

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