Which of the Following Types of Receivables Would Not Deserve

question 51

Multiple Choice

Which of the following types of receivables would not deserve the special attention of the auditor?

• A)Accounts receivables with credit balances
• B)Accounts that have been outstanding for a long time
• C)Receivables from related parties
• D)Each of the above would receive special attention.

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Definitions:

Median

The middle value of a data set when it is ordered from smallest to largest, or the average of the two middle values when the dataset has an even number of observations.

Outliers

Observations in a dataset that fall far outside the range of values of other observations, potentially skewing the results or analysis.

Central Tendency

A statistical measure that identifies a single value as representative of a data set, commonly the mean, median, or mode.

Statistic

A single measure, reported as a number, used to summarize a sample of data.