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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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