Which of the following statements about confirming accounts receivable (A/R) and accounts payable (A/P) is true? The assertion with the highest risk of material misstatement for A/R and A/P is Existence. A/R and A/P are always confirmed regardless of the materiality of the balance or risks of material misstatement. Positive and negative confirmations are always used to audit A/R and A/P. A/R confirmations are more likely to include the client's balance than A/P confirmations