During the Process of Confirming Receivables as of 30 June

question 70

Multiple Choice

During the process of confirming receivables as of 30 June 2012, a positive confirmation was returned indicating the 'balance owed as of 30 June was paid on 9 July 2012.' The auditor would most likely:

• A) determine whether a customary trade discount was taken by the customer.
• B) determine whether there were any changes in the account between 1 July and 9 July 2012.
• C) check subsequent cash receipts to confirm that the amount was received.
• D) reconfirm the zero balance as of 9 July 2012.

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