Confirmation of individual accounts receivable balances directly with debtors will, of itself, normally provide the strongest evidence
Question:
a. Collectability of the balances confirmed.
b. Ownership of the balances confirmed.
c. Existence of the balances confirmed.
d. Internal control over balances confirmed.
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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a Incorrect Receiving a confirmation is not evidence that the customer will pay b Inco...View the full answer
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Related Book For 
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
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