The most effective audit procedure for determining if an account receivable will be collected is:
A) Examination of cash collections subsequent to the year end.
B) Examination of sales invoice(s) .
C) Confirmation of the account.
D) The review of the customer's file to determine previous collection experience and to check sales orders from the customer for evidence credit approval.
Correct Answer:
Verified
Q22: Which of the following procedures is an
Q29: The bank confirmation provides the most evidence
Q34: Scanning sales invoices to determine whether there
Q40: Tracing a sample of recorded cash receipts
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Q46: In the course of examining the cut
Q48: In the audit of cash the auditor
Q49: Selecting a sample of debits from customer
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