1. A confirmation is considered documentary evidence secured from outside the organization and sent directly to the auditors.

2. The auditor needs the clients permission to send out confirmations.

3. A customers response to a receivable confirmation request may contain restrictive language concerning its use. All restrictions would invalidate the reliability of the response as audit evidence.

4. A common method of falsifying accounting records is to inflate the sales for the year by holding open the sales journal beyond the balance sheet date.

5. The best evidence of collectability of accounts receivable is payment by the debtors subsequent to the balance sheet date.

True or False