Both US and International Auditing Standards Require the Use of Confirmations

question 85

True/False

Both U.S. and international auditing standards require the use of confirmations for accounts receivable.

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Definitions:

Inequality

A mathematical statement illustrating the relationship between two expressions that are not equal, using symbols such as <, >, ≤, or ≥.

Absolute Value

The distance of a number from zero on the number line, regardless of direction; denoted by |x|.

Equation

A mathematical declaration that affirms two expressions, usually containing variables, are equal.

Inequality

A mathematical statement that indicates the relationship of less than, greater than, less than or equal to, or greater than or equal to between two values.