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
Q23: If tests of controls revealed a significant
Q24: In the audit of accounts receivable,negative confirmations
Q25: An auditor should perform alternative procedures to
Q26: In choosing to use blank positive confirmations,the
Q28: To gather evidence about transactions with related
Q29: The bank confirmation provides the most evidence
Q30: In the audit of accounts receivable,the positive
Q31: Your analysis of ABC Company's financial statements
Q32: A customer replies to a positive confirmation
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