The financial records of the Murray Company show that Mr.Donaldson owes $4,100 on an account receivable.An independent audit is being carried out and the auditors send a positive confirmation to Mr.Donaldson.What is the most likely reason as to why a positive confirmation rather than a negative confirmation was used here?
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q87: Is the confirmation of cash and accounts
Q112: In vouching revenue transactions, the auditor selects
Q113: PCAOB AS 2310, The Confirmation Process and
Q114: In order to test programmed application controls
Q115: To address the assertion of accuracy for
Q116: Which of the following are part of
Q117: In which of the following cases are
Q118: By sending monthly statements to customers, most
Q119: In the initial procedures of the audit
Q120: During an audit of LCG, Co, you
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents