When Using Confirmations to Provide Evidence About the Completeness Assertion

question 81

Multiple Choice

When using confirmations to provide evidence about the completeness assertion for accounts payable, the appropriate population most likely would be

• A)vendors with whom the entity has previously done business.
• B)amounts recorded in the accounts payable subsidiary ledger.
• C)payees of checks drawn in the month after the year-end.
• D)invoices filed in the entity's open invoice file.

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Definitions:

Utility Companies

Businesses that provide essential services such as water, electricity, and gas to homes and companies.

Purchase Services

The act of buying services rather than physical goods from a provider or vendor.

Receive Bill

The act of getting an invoice or bill from a vendor that outlines the amount owed for goods or services received.

Create Purchase Order

The process of generating a document that authorizes a purchase transaction for goods or services from a supplier.