What objectives are addressed by accounts payable confirmations? What form is used for accounts payable confirmations? Explain

Question:

What objectives are addressed by confirmations? What form is used for confirmations? Explain why confirmations are often not used on an audit.

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...