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Which of the following statements is true as it relates to accounts receivable confirmations? Confirmation responses are likely to be free of bias Replies are
Which of the following statements is true as it relates to accounts receivable confirmations? Confirmation responses are likely to be free of bias Replies are more likely to provide evidence as to completeness instead of existence If a customer returns a confirmation and disagrees with the balance, the auditor needs to identify the reason for the difference If a customer does not return a confirmation, the auditor will simply send a confirmation to a different customer If a customer does not return a confirmation, the auditor will perform alternative procedures to verify the balance When a client makes an error in the recording of receivables, the auditor will need to reconsider the assessment of control risk
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