Which of the following statements regarding the audit of negotiable notes receivable is not correct? a. Confirmation

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Which of the following statements regarding the audit of negotiable notes receivable is not correct?

a. Confirmation from the debtor is an acceptable alternative to inspection.

b. Physical inspection of a note by the auditor does not provide conclusive evidence of existence.

c. Materiality of the amount involved is a factor considered when selecting the accounts to be confirmed.

d. Notes receivable discounted with recourse need to be confirmed.

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Auditing An Assertions Approach

ISBN: 9780471134213

7th Edition

Authors: G. William Glezen, Donald H. Taylor

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Question Posted: May 08, 2024 01:29 AM

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Which of the following statements regarding the audit of negotiable notes receivable is not correct? a. Confirmation

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Auditing An Assertions Approach

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