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Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343 Exercise 47
Which of the following responses to an accounts receivable confirmation at December 31 would cause an audit team the most concern?
A) "This amount was paid on December 30."
B) "We received this shipment on January 2."
C) "These goods were returned for credit on November 15."
D) "The balance does not reflect our sales discount for paying by January 5."
A) "This amount was paid on December 30."
B) "We received this shipment on January 2."
C) "These goods were returned for credit on November 15."
D) "The balance does not reflect our sales discount for paying by January 5."
Explanation
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• In case payment is done on December 30...
Auditing & Assurance Services 6th Edition by Timothy Louwers
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