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Webb CPA audits a firm that provides internet services to a rural community. All receivable balances are small, customers are billed monthly, and internal control
Webb CPA audits a firm that provides internet services to a rural community. All receivable balances are small, customers are billed monthly, and internal control is effective. To determine the existence of the accounts receivable balances at the balance sheet date, Webb would most likely: a. examine evidence of subsequent cash receipts instead of sending confirmation requests. b. send positive confirmation requests. c. use statistical sampling instead of sending confirmation requests. d. send negative confirmation requests.
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