A positive confirmation is representing a higher quality of evidence in compare to a negative confirmation, as the auditor receives explicit evidence from the third party. To state: the auditor should perform forpositive confirmations of follow-up work

Question

Finn's Furniture has accounts receivable of $5,280, inventory of $2,100, sales of $152,000, and cost of goods sold of $75,600. How many days does it take the firm to sell its inventory and collect the payment on the sale assuming all sales are on credit?

Answer 1

Question

Chapter 9, Problem 32RQSC

a

To determine

Introduction:

A positive confirmation is representing a higher quality of evidence in compare to a negative confirmation, as the auditor receives explicit evidence from the third party.

To state:the auditor should perform forpositive confirmations of follow-up work

b

To determine

Introduction:A confirmation is a letter sent by an auditor to the customers of a client. To verify the payable and receivable balances associated with the customers in the client's financial records, it is followed.

To ascertain: the auditor should perform fornegative confirmations of follow-up work

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Finn's Furniture has accounts receivable of $5,280, inventory of $2,100, sales of $152,000, and cost of goods sold of $75,600. How many days does it take the firm to sell its inventory and collect the payment on the sale assuming all sales are on credit?

Carlton Enterprises has the following data

Finn's Furniture has accounts receivable of $5,280, inventory of $2,100, sales of $152,000, and cost of goods sold of $75,600. How many days does it take the firm to sell its inventory and collect the payment on the sale assuming all sales are on credit? Need help

Answer 2

Question

Chapter 9, Problem 32RQSC

a

To determine

Introduction:

A positive confirmation is representing a higher quality of evidence in compare to a negative confirmation, as the auditor receives explicit evidence from the third party.

To state:the auditor should perform forpositive confirmations of follow-up work

b

To determine

Introduction:A confirmation is a letter sent by an auditor to the customers of a client. To verify the payable and receivable balances associated with the customers in the client's financial records, it is followed.

To ascertain: the auditor should perform fornegative confirmations of follow-up work

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Answer 3

Question

Chapter 9, Problem 32RQSC

a

To determine

Introduction:

A positive confirmation is representing a higher quality of evidence in compare to a negative confirmation, as the auditor receives explicit evidence from the third party.

To state:the auditor should perform forpositive confirmations of follow-up work

b

To determine

Introduction:A confirmation is a letter sent by an auditor to the customers of a client. To verify the payable and receivable balances associated with the customers in the client's financial records, it is followed.

To ascertain: the auditor should perform fornegative confirmations of follow-up work

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Answer 4

Question

Chapter 9, Problem 32RQSC

a

To determine

Introduction:

A positive confirmation is representing a higher quality of evidence in compare to a negative confirmation, as the auditor receives explicit evidence from the third party.

To state:the auditor should perform forpositive confirmations of follow-up work

b

To determine

Introduction:A confirmation is a letter sent by an auditor to the customers of a client. To verify the payable and receivable balances associated with the customers in the client's financial records, it is followed.

To ascertain: the auditor should perform fornegative confirmations of follow-up work

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Answer 5

Chapter 9, Problem 32RQSC

a

To determine

Introduction:

A positive confirmation is representing a higher quality of evidence in compare to a negative confirmation, as the auditor receives explicit evidence from the third party.

To state:the auditor should perform forpositive confirmations of follow-up work

b

To determine

Introduction:A confirmation is a letter sent by an auditor to the customers of a client. To verify the payable and receivable balances associated with the customers in the client's financial records, it is followed.

To ascertain: the auditor should perform fornegative confirmations of follow-up work

Answer 6

Chapter 9, Problem 32RQSC

a

To determine

Introduction:

A positive confirmation is representing a higher quality of evidence in compare to a negative confirmation, as the auditor receives explicit evidence from the third party.

To state:the auditor should perform forpositive confirmations of follow-up work

Answer 7

Chapter 9, Problem 32RQSC

a

To determine

Introduction:

A positive confirmation is representing a higher quality of evidence in compare to a negative confirmation, as the auditor receives explicit evidence from the third party.

To state:the auditor should perform forpositive confirmations of follow-up work

Answer 8

b

To determine

Introduction:A confirmation is a letter sent by an auditor to the customers of a client. To verify the payable and receivable balances associated with the customers in the client's financial records, it is followed.

To ascertain: the auditor should perform fornegative confirmations of follow-up work

Answer 9

b

To determine

Introduction:A confirmation is a letter sent by an auditor to the customers of a client. To verify the payable and receivable balances associated with the customers in the client's financial records, it is followed.

To ascertain: the auditor should perform fornegative confirmations of follow-up work

Answer 10

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Answer 21

Ch. 9 - In the revenue cycle, the most significant...Ch. 9 - Which of the following statements is true...Ch. 9 - Prob. 4CYBK Ch. 9 - Prob. 7CYBK Ch. 9 - Prob. 8CYBK Ch. 9 - Prob. 9CYBK Ch. 9 - Prob. 10CYBK Ch. 9 - Prob. 11CYBK Ch. 9 - Prob. 12CYBK Ch. 9 - Prob. 13CYBK

A positive confirmation is representing a higher quality of evidence in compare to a negative confirmation, as the auditor receives explicit evidence from the third party. To state: the auditor should perform forpositive confirmations of follow-up work

Solution Summary: The author explains that a positive confirmation shows higher quality of evidence, compared to the negative confirmation, as the auditor receives explicit evidence from the third party.

Introduction:

A positive confirmation is representing a higher quality of evidence in compare to a negative confirmation, as the auditor receives explicit evidence from the third party.

To state:the auditor should perform forpositive confirmations of follow-up work

Chapter 9 Solutions

A positive confirmation is representing a higher quality of evidence in compare to a negative confirmation, as the auditor receives explicit evidence from the third party. To state: the auditor should perform forpositive confirmations of follow-up work

Solution Summary: The author explains that a positive confirmation shows higher quality of evidence, compared to the negative confirmation, as the auditor receives explicit evidence from the third party.

Introduction: A positive confirmation is representing a higher quality of evidence in compare to a negative confirmation, as the auditor receives explicit evidence from the third party. To state:the auditor should perform forpositive confirmations of follow-up work

Chapter 9 Solutions

Introduction:

A positive confirmation is representing a higher quality of evidence in compare to a negative confirmation, as the auditor receives explicit evidence from the third party.

To state:the auditor should perform forpositive confirmations of follow-up work