An auditor who is engaged to examine the financial statements of a business enterprise will request a cutoff bank statement primarily to

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An auditor who is engaged to examine the financial statements of a business enterprise will request a cutoff bank statement primarily to

A. Verify the cash balance reported on the bank confirmation inquiry form.

B. Verify reconciling items on the entity’s bank reconciliation.

C. Detect lapping.

D. Detect kiting.

Answer: Verify reconciling items on the entity’s bank reconciliation

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