It Is Appropriate to Regard Confirmations Mailed but Not Returned

question 9

True/False

It is appropriate to regard confirmations mailed but not returned by customers as significant audit evidence.

---

Definitions:

Quantity

Refers to the amount or number of units or items available, produced, or consumed in a given context.

Competition

The rivalry among businesses to attract customers, increase sales, and achieve market dominance.

Self-Interested

Describes individuals or entities that act in their own best interest, aiming to maximize their own benefits and minimize costs.

Produce Efficiently

The process of producing goods or services in a way that minimizes waste and maximizes output using the least resources.