Returns of Positive Confirmation Requests for Accounts Receivable Were Very

question 73

Multiple Choice

Returns of positive confirmation requests for accounts receivable were very poor.As an alternative procedure, the auditor decided to check subsequent collections.The auditor had satisfied himself that the client satisfactorily listed the customer name next to each cheque listed on the deposit slip; hence, he decided that for each customer from whom a confirmation was not received, he would add all amounts shown for that customer on each validated deposit slip for the two months following the balance sheet date.The major fallacy in the auditor's procedure is that:

• A) the deposit slip would not be received directly by the auditor as a confirmation would be.
• B) checking of subsequent collections is not an accepted alternative auditing procedure for confirmation of accounts receivable.
• C) a customer may not have made a payment during the two-month period.
• D) by looking only at the deposit slip, the auditor would not know if the payment was for the receivable at the balance sheet date or for a subsequent transaction.

Differentiate between rival and nonrival, as well as exclusive and nonexclusive goods, identifying examples of each.

Understand the structure and function of capillaries in the circulatory system.

Identify the different types of capillaries and their unique features.

Comprehend the processes involved in the exchange between capillaries and interstitial spaces.

---

Definitions:

NMR

Nuclear Magnetic Resonance, a technique used to observe the local magnetic fields around atomic nuclei, providing detailed information about the structure, dynamics, reaction state, and chemical environment of molecules.

IR

Infrared spectroscopy, a technique used to identify and study chemicals by analyzing their infrared light absorption patterns.

Broad

Descriptive of something with a wide scope, extent, or range; may refer to concepts or physical objects that cover a large area or numerous subjects.

Triplet

A term used in quantum mechanics and spectroscopy to describe a system or state with three closely related energy levels, or a spin state of a molecule in which two unpaired electrons have parallel spins.