It Is Sometimes Impossible for the Auditors to Use Normal

question 47

Multiple Choice

It is sometimes impossible for the auditors to use normal accounts receivable confirmation procedures.In such situations,the best alternative procedure the auditors might resort to would be:

• A)Examining subsequent receipts of year-end accounts receivable.
• B)Reviewing accounts receivable aging schedules prepared at the balance sheet date and at a subsequent date.
• C)Requesting that management increase the allowance for uncollectible accounts by an amount equal to some percentage of the balance in those accounts that cannot be confirmed.
• D)Applying analytical procedures to accounts receivable and sales on a year-to-year basis.

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Definitions:

High Self-Esteem

High Self-Esteem refers to an individual's positive evaluation of self-worth and confidence in their own abilities.

Future Obligation

Commitments or responsibilities that are anticipated or required to be fulfilled in the future.

Materialistic Ideals

The belief that material wealth and physical possessions are the primary indicators of success or happiness.

Industrial Revolution

A period of major industrialization from the late 18th to early 19th century that transformed agriculture-based societies into industrialized ones.