Question: A cut - off bank statement would be used to Verify that kiting djd not occur. Verify that all bank fees charged were properly recorded
A cutoff bank statement would be used to
Verify that kiting djd not occur.
Verify that all bank fees charged were properly recorded in the general ledger account.
Verify that all checks listed in the cutoff bank statement were properly included in the yearend bank reconciliation.
Verify that all deposits in transit in the bank reconciliation were appropriately included.
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