When there are a large number of relatively small account receivable balances,negative confirmation requests may be appropriate if the combination of inherent risk and control risk is:
A) Low,and the individuals receiving the confirmation requests are unlikely to give them adequate consideration.
B) High,and the individuals receiving the confirmation requests are likely to give them adequate consideration.
C) High,and the individuals receiving the confirmation requests are unlikely to give them adequate consideration.
D) Low,and the individuals receiving the confirmation requests are likely to give them adequate consideration.
Correct Answer:
Verified
Q38: Which of the following is most likely
Q39: For effective internal control,the billing function should
Q40: Which of the following is consistent with
Q41: An auditor should perform alternative procedures to
Q42: A CPA examines a sample of credit
Q44: The confirmation process may be performed
Q45: Tracing copies of sales invoices to shipping
Q46: It is sometimes impossible for the auditors
Q47: Which of the following is not a
Q48: An auditor discovered that a client's accounts
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents