58.In which of the following circumstances would the use of the negative form of accountsreceivable confirmation most likely be justified?a.A substantial number of accounts may be in dispute and the accounts receivable balance arisesfrom sales to a few major customers.b.A substantial number of accounts may be in dispute and the accounts receivable balance arisesfrom sales to many customers with small balances.c.A small number of accounts may be in dispute and the accounts receivable balance arises fromsales to a few major customers.d.A small number of accounts may be in dispute and the accounts receivable balance arises fromsales to many customers with small balances.D59.To reduce the risks associated with accepting e-mail responses to requests for confirmation of Show
accounts receivable, an auditor most likely would60.To reduce the risks associated with accepting fax responses to requests for confirmations of Get answer to your question and much more accounts receivable, an auditor most likely would Under what circumstances would a positive confirmation of accounts receivable be preferable to a negative confirmation?Under what circumstances would a positive confirmation of accounts receivable be preferable to a negative confirmation? and/or a large number of errors are anticipated. In such cases, positive confirmation will be used as it is a high-quality evidence being provided directly from the customers.
What is a negative form of accounts receivable confirmation?A negative confirmation is a document issued by an auditor to the customers of a client company. The letter asks the customers to respond to the auditor only if they find a discrepancy between their records and the information about the client company's financial records that are supplied by the auditor.
In which of the following circumstances would the use of the positive form of accounts receivable confirmation most likely be justified?Under which of the following circumstances is the use of the blank form of positive confirmation of accounts receivable most likely preferable? The recipients are likely to sign the confirmations without devoting proper attention to them.
What is a negative confirmation and under what circumstances should an auditor use them in their testing of account receivable balances?Negative confirmations are often used by auditors and involve a document sent to a sample of a company's customers, asking them to respond only if they find a discrepancy between their books and the account recorded on the financial statements of the company being audited.
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In which following circumstances would the use of the negative forms of accounts receivable confirmation most likely be justified?
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