Chapter 16, Problem 21.1MCQ

The following questions deal with confirmation of accounts receivable. Choose the best response.

The return of a positive confirmation of accounts receivable without an exception attests to the

1. (1) collectibility of the receivable balance.
2. (2) accuracy of the allowance for uncollectible accounts.
3. (3) accuracy of the aging of accounts receivable.
4. (4) accuracy of the receivable balance.