A Sample of Positive Confirmations Is Mailed for Material Accounts

question 47

Multiple Choice

A sample of positive confirmations is mailed for material accounts receivable balances.Frequently there is a lack of response.Which of the following is not an acceptable alternative procedure?

• A)Reviewing collections on the account subsequent to the confirmation date.
• B)Inquiry of management.
• C)Mailing second and third confirmations.
• D)Examination of supporting documents.

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Definitions:

U.S. Constitution

The supreme law of the United States that outlines the nation's fundamental principles and establishes its governmental framework.

Privacy

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Fourth Amendment

Part of the U.S. Constitution protecting citizens from unwarranted searches and seizures by the government.

Privacy Rights

The rights of individuals to control or limit access to their personal information and to maintain confidentiality in personal matters.