21. The person responsible for determining uncollectable accounts is the

a. controller

b. credit manager

c. treasurer

d. accounts receivable clerk

22. T/F -The mail room clerks should be responsible for opening the mail, retrospectively endorsing the checks, preparing prelists and filling out deposit slips

23. T/F An engagement to prepare financial statements is a nonattest service and does not require a determination about whether the accountant is independent of the client entity

24. The billing department should be under the direction of the

a. Treasurer

b. credit manager

c. Sales manager

d. controller

25. A client is more likely to ____ accounts receivable and ___ accounts payable

a.Overstate, understate

b. understate, overstate

c. Overstate, overstate

d. Understate, understate

e. None of the above, because the client is always honest and accurate