In the confirmation of accounts receivable, the auditor will most likely
A. Request confirmation of a sample of the inactive account.
B. Seek to obtain positive confirmations for at least 50% of the total dollar amount of the receivables.
C. Require confirmation of all receivables from agencies of the federal government.
D. Require that confirmation requests be sent within 1 month of the fiscal year end.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “In the confirmation of accounts receivable, the auditor will most likely A. Request confirmation of a sample of the inactive account. B. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Because transit tends to be congested in this country, many people prefer to shop in their local neighborhoods. They tend to go to stores several times a week to get what they need rather than making one big trip less frequently.
Answers (1)
2. You are a shareholder in an S corporation. The corporation earns $2.07 per share before taxes. As a pass through entity, you will receive $2.07 for each share that you own. Your marginal tax rate is 20%.
Answers (1)
Suppose the interest rate on a 1-year T-bond is 5.0% and that on a 2-year T-bond is 7.0%. Assuming the pure expectations theory is correct, what is the market's forecast for 1-year rates 1 year from now? a. 7.36% b. 8.59% c. 7.75% d. 8.16% e. 9.04%
Answers (1)
Zenith company inc.'s merchandise inventory account at the end of year 2015 has a balance of $91,820, but a physical count reveals that only $90,450 of inventory exists. the adjusting entry to record this $1,370 of inventory shrinkage is:
Answers (1)
How does a corporation's investment in a political or social agenda affect its duty to its shareholders?
Answers (1)
New Questions in Business
Osborn Company's unadjusted book balance at June 30, 2014 is $7,800. The company's bank statement reveals bank service charges of $45.
Answers (1)
Which of the following is a correct formula when markup is based on selling price? a Dollar markup X Selling price = Percentage markup b Dollar markup + Percentage markup = Selling price c Dollar markup - divide by-Percentage markup =
Answers (1)
Knorr issues 1,000 shares of $2 par value common stock for $10 per share. The journal entry to record this transaction will include which of the following?
Answers (1)
joan made deductible contributions to traditional retirement accounts for several years. in 2018 she decided to withdraw $10,000 from one of her accounts. joan is 62 years old how does this transaction affect her 2018 tax return
Answers (1)
If bond interest expense is $800,000, bond interest payable increased by $8,000 and bond discount decreased by $2,000, cash paid for bond interest is: a.$790,000. b.$784,000. c.$806,000. d.$910,000.
Answers (1)