Billing department CollectionsBill of ladingShipping documents Collection agencyPositiveAssume the balance is correctRelated party receivable Aged trial balanceCredit department 1.Before goods are shipped on open account, the sale should be approved by the2. Aconfirmation request asks the debtor to respond in all cases.3. If a response to a negative confirmation request is not received, the auditors ordinarily4.Ais a shipping document that is prepared for goods shipped by a common carrier.The best evidence of collectibility of accounts receivable is examination of subsequentof the accounts.5.

The question is related to Auditing and is of fill in the blanks with the appropriate word.

Answered: Billing department Collections Bill of…

Billing department Collections Bill of lading Shipping documents Collection agency Positive Assume the balance is correct Related party receivable Aged trial balance Credit department

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Billing department Collections Bill of lading Shipping documents Collection agency Positive Assume the balance is correct Related party receivable Aged trial balance Credit department

1.
Before goods are shipped on open account, the sale should be approved by the
2. A
confirmation request asks the debtor to respond in all cases.
3. If a response to a negative confirmation request is not received, the auditors ordinarily
4.
A
is a shipping document that is prepared for goods shipped by a common carrier.
The best evidence of collectibility of accounts receivable is examination of subsequent
of the accounts.
5.

Definition Definition Statement that shows the ending balance of all the ledger accounts of a firm at the end of the accounting period. The trial balance is prepared after all the entries have been posted to the ledger accounts and assists in preparing the final accounts of a firm.

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