Positive Accounts Receivable Confirmations Were Circularized,and There Were Many Differences

question 63

Multiple Choice

Positive accounts receivable confirmations were circularized,and there were many differences where the client stated that the goods had not been received as of the date of the confirmation.In addition to the possibility that the goods were not received by the client,this type of reported difference could be an indication of

• A)a cutoff misstatement.
• B)timing differences with respect to recording sales returns.
• C)improper recording of sales allowances.
• D)theft of cash or lapping.

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Definitions:

Anna Freud

A pioneering child psychoanalyst and the daughter of Sigmund Freud, known for her theoretical and clinical contributions to the field of psychoanalysis.

Internalizing Problem

Psychological issues that are manifested inwardly, such as anxiety, depression, and withdrawal, as opposed to externalizing problems that involve outward behaviors towards others.

Externalizing Problem

Behaviors directed outwardly, typically involving conflicts with other individuals or society, such as aggression or defiance.

Mood Disorder

A psychological disorder characterized by the elevation or lowering of a person's mood, such as depression or bipolar disorder.