IIA
IIA-CFSA · Question #155
IIA-CFSA Question #155: Real Exam Question with Answer & Explanation
Sign in or unlock IIA-CFSA to reveal the answer and full explanation for question #155. The question stem and answer options stay visible for context.
Question
The financial institutions' general ledger records activity on deposit accounts. Posting of time deposit transactions usually occurs on the day transaction occurs or the next day. The following audit objectives and steps should be considered when performing an audit of deposit accounts EXCEPT:
Options
- AAssess the adequacy of policies, procedures, and internal controls regarding deposit accounts
- BDetermine whether documentation exists to show that accounts are properly opened and closed
- CDetermine whether deposit transactions and any expense is posted properly
- DEnsue that there is adequate separation of duties between the posting and reconciling functions.
Unlock IIA-CFSA to see the answer
You've previewed enough free IIA-CFSA questions. Unlock IIA-CFSA for full answers, explanations, the timed quiz mode, progress tracking, and the master PDF. Question stem and options stay visible so you can still see what's on the exam.