true or false

AOA- Dictate Styles Styles Pane Sene 21 11 5. The auditors' assessments of risks of material misstatement inherent and control risks) are used to design further audit procedures, including tests of controls and substantive procedures 6. When the auditors compare a sample of shipping documents to related sales invoices, they are trying to locate Items that have been billed but not shipped. 7. All allowances to customers for returned or defective merchandise should be supported by serially numbered credit memoranda signed by an officer or responsible employee having no duties relating to handling cash or the maintenance of customers' ledgers. 8. The auditors should perform alterative auditing procedures on all negative confirmation requests that are not returned 9. When it is impossible" to confirm accounts receivable, the auditors can never issue an unqualified opinion on the client's financial statements. 10. Inspection of notes receivable on hand should be performed concurrently with the count of cash and securities to prevent the concealment of a shortage by substitution of cash for misappropriated negotiable instruments, or vice versa. 11. A confirmation is considered documentary evidence secured from outside the organization and sent directly to the auditors. 12. The auditor needs the client's permission to send out "confirmations", 13. A customer's 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 14. 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. 15. The best evidence of collectability of accounts receivable is payment by the debtors subsequent to the balance sheet date. 16. Accounts receivable confirmations are likely to be more effective for the existence assertion than for the completeness and valuation assertions. 17. The auditor should exercise an appropriate level of professional skepticism throughout the confirmation process. Trud 18. Negative confirmation forms provide audit evidence only when responses are received from the recipients, nonresponses do not provide audit evidence about the financial statement assertions haine dead English (United States) IT a words Focus GE 18. Negative confirmation forms provide audit evidence only when responses are received from the recipients; nonresponses do not provide audit evidence about the financial statement assertions being addressed 19. The positive confirmation form requests the recipient to respond only if he or she disagrees with the information stated on the request. 20. During the performance of confirmation procedures, the auditor should maintain control over the confirmation requests and responses