In addition to confirming bank balances of your audit client, a bank confirmation would normally contain
A) the client's bank loans with due date, interest rate, and collateral requested.
B) the client's credit history as regards to paying back loans.
C) the client's managements bank account information.
D) the client's business prospects.

Question

Quizplus · Accepted Answer

Bank confirmations typically provide information about the client's bank balances as well as any loans, including the due date, interest rate, and collateral requested. The confirmation would not typically contain information about the client's credit history, management's bank account information, or the client's business prospects.

In Addition to Confirming Bank Balances of Your Audit Client