When using confirmations to provide evidence about the completeness assertion for accounts payable,the appropriate population most likely would be
A)Vendors with whom the entity has previously done business.
B)Amounts recorded in the accounts payable subsidiary ledger.
C)Payees of checks drawn in the month after the year-end.
D)Invoices filed in the entity's open invoice file.

Question

Quizplus · Accepted Answer

The appropriate population for confirmations to provide evidence about the completeness assertion for accounts payable would be vendors with whom the entity has previously done business as they would be the ones who have outstanding balances owed by the entity at year-end. It would be less appropriate to use the other options as they do not directly relate to outstanding balances owed by the entity at year-end.

When Using Confirmations to Provide Evidence About the Completeness Assertion