Match Five of the 11 Terms (A-K)with the Five Descriptions

question 89

Short Answer

Match five of the 11 terms (a-k)with the five descriptions provided below (1-5):
a. accounts receivable
b. balance-related audit objectives
c. alternative procedures
d. blank confirmation form
e. cutoff misstatements
f. evidence planning worksheet
g. negative confirmation
h. positive confirmation
i. realisable value of accounts receivable
j. timing difference in an accounts receivable confirmation
k. invoice confirmation.
1 the follow-up of a positive confirmation not returned by the debtor with the use of documentation evidence to determine whether the recorded receivable exists and is collectible
2 a letter, addressed to the debtor, requesting that the recipient indicate directly on the letter whether the stated account balance is correct or incorrect, and, if incorrect, by what amount
3 misstatements that take place as a result of current period transactions being recorded in a subsequent period, or subsequent period transactions being recorded in the current period
4 a form used to help the auditor decide whether planned detection risk for tests of details of balances should be low, medium, or high for each balance-related audit objective
5 a letter, addressed to the debtor, requesting a response only if the recipient disagrees with the amount of the stated account balance

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Definitions:

Specialist Species

Organisms that can thrive only in a narrow range of environmental conditions or have a limited diet due to specialized needs.

Biopharming

The process of using genetically modified plants or animals to produce pharmaceuticals and other substances such as antibodies or vaccines.

Genetically Engineered

The alteration of the genetic makeup of an organism using biotechnology to include traits that are not naturally found in the organism.

Biofactories

Facilities that utilize biological processes, such as fermentation or enzyme production, for the manufacturing of pharmaceuticals, chemicals, or food products.