Solved

A)Describe the Differences Between Positive and Negative Confirmations

Question 130

Essay
A)Describe the differences between positive and negative confirmations.Which type is more reliable?B)Discuss the advantages and disadvantages of using negative accounts receivable confirmations rather than positive confirmations.C)Discuss the circumstances in which it is acceptable to use negative confirmation requests.D)The auditor's decision regarding the type of accounts receivable confirmation to use involves a continuum,starting with using no confirmations in some circumstances,to using only negatives,to using both positives and negatives,to using only positives.Discuss the primary factors affecting this decision.

A)Describe the differences between positive and negative confirmations.Which type is more reliable?B)Discuss the advantages and disadvantages of using negative accounts receivable confirmations rather than positive confirmations.C)Discuss the circumstances in which it is acceptable to use negative confirmation requests.D)The auditor's decision regarding the type of accounts receivable confirmation to use involves a continuum,starting with using no confirmations in some circumstances,to using only negatives,to using both positives and negatives,to using only positives.Discuss the primary factors affecting this decision.

Correct Answer:

verifed

Verified

A)A positive confirmation requests the r...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents