which of the following represents is a true statement regarding bank confirmations? I.generally accepted auditing...
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Accounting
which of the following represents is a true statement regarding bank confirmations?
I.generally accepted auditing standards(GAAS) require auditors to obtain bank confirmation for the audit of non-public entities.
II. Bank confirmations usually contain a request for information regarding all of client bank loans with a due date, interest rate and collateral requested.
A. I only
B. II only
C. I and II
D. Neither are true statements
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