Bank Balances and Receivables Are Commonly Associated with Which Type

question 53

Multiple Choice

Bank balances and receivables are commonly associated with which type of audit evidence?

• A) confirmation
• B) physical examination
• C) Confirmation
• D) inquiries of the client

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Definitions:

Customer Service

A support that companies provide to their customers before, during, and after purchasing and using goods or services, aimed at enhancing customer satisfaction.

Transactional Functions

Essential activities involved in the buying, selling, or exchanging of goods and services, including tasks such as order processing, billing, and payment handling.

Marketing Channel

A set of practices or activities necessary to transfer the ownership of goods from the point of production to the point of consumption.

Risk Taking

The act of engaging in a behavior or decision that has the potential for a negative outcome, in the hope of achieving a positive result.