Confirmations of accounts receivable provide the most evidence for which of the following assertions?
A)Existence.
B)Valuation or allocation.
C)Rights and obligations.
D)Completeness.

Question

Quizplus · Accepted Answer

Confirmations of accounts receivable provide evidence of the existence of the receivables, as they confirm that the customer actually owes the amount stated. The other assertions may also be relevant for accounts receivable, but confirmations provide primary evidence for existence.

Confirmations of Accounts Receivable Provide the Most Evidence for Which