When counting cash on hand the auditor must exercise simultaneous control over all cash and other negotiable assets to prevent
A) Theft.
B) Irregular endorsement.
C) Replacement or substitution of stolen assets.
D) Deposits in transit.

Question

Quizplus · Accepted Answer

Simultaneous control prevents the replacement or substitution of stolen assets, ensuring the integrity of the cash count.

When Counting Cash on Hand the Auditor Must Exercise Simultaneous