What is meant by a cutoff bank statement, Auditing

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What is meant by a cutoff bank statement

Response to the following questions:

1. Describe what is meant by a cutoff bank statement and state its purpose.

2. Why are auditors usually less concerned about the client's cash receipts cutoff than the cutoff for sales? Explain the procedure involved in testing for the cutoff for cash receipts.

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Auditing: What is meant by a cutoff bank statement

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