Which of the Following Most Likely Would Give the Most

question 35

Multiple Choice

Which of the following most likely would give the most assurance concerning the valuation assertion of accounts receivable?

• A)Tracing amounts in the subsidiary ledger to details on shipping documents.
• B)Comparing receivable turnover rates to industry statistics for reasonableness.
• C)Inquiring about receivables pledged under loan agreements.
• D)Assessing the allowance for uncollectible accounts for reasonableness.

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Definitions:

Framers

The group of individuals who shaped and drafted the United States Constitution during the Constitutional Convention of 1787.

Constitution

A set of fundamental principles or established precedents according to which a state or other organization is governed, outlining the structure of government and the rights of citizens.

Federalists

Advocates for a strong central government and supporters of the ratification of the U.S. Constitution in the late 18th century, as opposed to anti-federalists who favored stronger state governments.

Antifederalists

Political figures and activists in early American history who opposed the creation of a strong federal government, advocating instead for states' rights and a decentralized political structure.