- 24. Auditors may use positive or negative forms or confirmation requests for accounts receivable. An auditor most likely will use A. The positive form to cofirm all balances regardless of size. B. A combination of the two forms, with the positive form used for large balances and the negative form for the small balances. C. A combination of the two forms, with the positive form used for trade receivables and the negative form for other receivables. D. The positive form when the combined assessed level of inherent and control risk for assertions related to receivables is acceptably low and the negative form when it is unacceptably high.
- 24. Auditors may use positive or negative forms or confirmation requests for accounts receivable. An auditor most likely will use A. The positive form to cofirm all balances regardless of size. B. A combination of the two forms, with the positive form used for large balances and the negative form for the small balances. C. A combination of the two forms, with the positive form used for trade receivables and the negative form for other receivables. D. The positive form when the combined assessed level of inherent and control risk for assertions related to receivables is acceptably low and the negative form when it is unacceptably high.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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