If Completeness Is a Concern for Accounts Payable, Auditors Will

question 75

Multiple Choice

If completeness is a concern for accounts payable, auditors will send accounts payable confirmations to:

• A)primarily vendors with large accounts payable balances.
• B)primarily vendors with small or zero accounts payable balances.
• C)all vendors.
• D)a random sample of all vendors.

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Definitions:

Attract Capital

The process or strategy employed by organizations to secure investment or funding from external sources.

Large Company

A corporation or business entity that has a substantial revenue, number of employees, or market share.

Harvest

In business, the process of realizing or extracting value from an investment, practice, or venture, often used in reference to the selling or exiting phase.

Value Created

The increase in worth that is generated through the operations or activities of a company or organization.