What is a blank confirmation? Why is this format often used for accounts payable?

Question:

What is a “blank” confirmation? Why is this format often used for accounts payable?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Auditing and Assurance Services Understanding the Integrated Audit

ISBN: 978-0471726340

1st edition

Authors: Karen L. Hooks

See More Books

Question Posted: Jan 21, 2015 10:39 AM

See More Questions

What is a blank keyframe?
Is the confirmation of accounts payable by direct communication with vendors as useful and important an audit procedure as such confirmation of accounts receivable? Explain.
What is a confirmation exception? Why is it important to investigate confirmation exceptions?
Suggest two strategies for the company to minimise the impact of the strike on business operation?
Naturally occurring lithium is a mixture of 63Li and 73Li. Give the number of protons, neutrons, and electrons in the neutral atom of each isotope.
Explain the efficiency perspective and the opportunistic perspective of Positive
Informed consent? A 72-year-old man with multiple sclerosis is hospitalized. His doctor feels he may need to be placed on a feeding tube soon to ensure adequate nourishment. He asks the patient about...
Wisconsin Wire (WW) has implemented a just-in-time inventory system for the production of its insulated wire. Inventories of raw material and work in process are so small that WW uses a Raw and...
Struggling to understand the Additional Information Journal Entries. Please Help Asap! Additional Information Equipment: The $48,000.00 beginning balance in the Equipment account relates to the...
Write a program that reads an unspecified number of integers, determines how many positive and negative values have been read, and computes the total and average of the input values (not counting...
What is the purpose of sending confirmations to vendors with small or zero balances?
What are common sources of discrepancies between responses on blank accounts payable confirmations and the audit clients accounts payable subsidiary ledger?
On a library shelf there are seven novels, three dictionaries and two atlases. Two books are randomly selected without replacement from these. Find the probability that the selected books are: a....
Q10: Region ( experienced compressive stresses and has a than the rest of the bracket. Region ( ) experienced tension stresses and has a of the bracket. Deep Drawing and Stretch Forming width (into...
A sample of 1500 computer chips revealed that 32% of the chips do not fail in the first 1000 hours of their use. The company\'s promotional literature claimed that above 29% do not fail in the first...
The 75 lb block is released from rest 5 ft above the plate. Determine the compression of each spring when the block momentarily comes to rest after striking the plate. Neglect the mass of the plate....
Indiana Soy Products (OSP) buys soybeans and processes them into other soy products. Each ton of soybeans that OSP purchases for $250 can be converted for an additional $180 into 675 lbs of soy meal...
The 2025 Annual Report of Splish International contains the following informatio (in millions) June 29, 2025 June 27, 2024 Total assets $1,545 $1,502 Total liabilities 989 1,060 Net sales 2,800 2.971...
Why did the US dollar become so weak and the Bretton Woods Agreement fail in 1973?
Digital Fruit is financed solely by common stock and has outstanding 25 million shares with a market price of $10 a share. It now announces that it intends to issue $160 million of debt and to use...
Which biome is characterized by deciduous trees? (a) tropical forest (b) temperate forest (c) coniferous forest (d) chaparral
During audits of internal control over financial reporting of various issuers, the auditors encountered the independent situations below. For each situation a through e select from the following list...
Your working papers for an integrated audit being performed under PCAOB Standard No. 5 include the narrative description below of the cash receipts and billing portions of internal control of...
For each of the following independent cases, state the highest level of deficiency that you believe the circumstances representa control deficiency, a significant deficiency, or a material weakness....
4. The risk-free rate of return is 3.78% and the market risk premium is 6.42%. What is the expected rate of return on a stock with a beta of 1.09?
Maddox Resources has credit sales of $ 1 8 0 , 0 0 0 yearly with credit terms of net 3 0 days, which is also the average collection period. Maddox does not offer a discount for early payment, so its...
Selk Steel Co., which began operations on January 4, 2017, had the following subsequent transactions and events in its long-term investments. 2017 Jan. 5 Selk purchased 50,000 shares (25% of total)...

What is a blank confirmation? Why is this format often used for accounts payable?

Question:

Step by Step Answer:

A blank confirmation is one in which the amounts are no...View the full answer

Auditing and Assurance Services Understanding the Integrated Audit

Students also viewed these Auditing questions