The general cash account is considered significant in almost all audits:
A) where either the beginning or ending balance is material.
B) even when the ending balance is immaterial.
C) except those of not- for- profit organisations.
D) where the ending balance is material.

Question

Quizplus · Accepted Answer

The general cash account is significant in almost all audits because cash transactions occur frequently and can affect many areas of the financial statements, even if the ending balance is immaterial.

The General Cash Account Is Considered Significant in Almost All