What Is the Most Important Test of Details of Balances

question 104

Multiple Choice

What is the most important test of details of balances for accounts receivable?

• A) obtaining confirmations from the client's customers
• B) recalculating the aged receivables and uncollectible accounts
• C) tracing credit memos for returned merchandise to receiving room reports
• D) tracing from shipping documents to journals to the accounts receivable ledger

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Definitions:

Administration

The process of organizing and managing tasks, operations, or duties within an organization to achieve set objectives effectively.

Sales

The activity or business of selling products or services to customers.

Virtual Teams

Groups of individuals from different locations work together through e-mail, video conferencing, instant messaging, and other electronic media.

Videoconferencing

A technology that allows two or more people at different locations to see and hear each other simultaneously, facilitating remote communication.