During the Process of Confirming Receivables as of 30 June

question 61

Multiple Choice

During the process of confirming receivables as of 30 June 2015, a positive confirmation was returned indicating the 'balance owed as of 30 June was paid on 9 July 2015'.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 2015.
• C)check subsequent cash receipts to confirm that the amount was received.
• D)reconfirm the zero balance as of 9 July 2015.

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Definitions:

Self-Knowledge

The understanding of one's own character, feelings, motives, and desires.

Agent Self

The aspect of an individual that is involved in making decisions, taking action, and exerting control over one's environment and oneself.

Interpersonal Self

Refers to the aspect of an individual's self-concept that is formed in relation to social interactions and the perceptions of others.

Inner "True" Self

Inner "True" Self pertains to an individual's most authentic and intrinsic identity, devoid of societal masks, expectations, and pressures, often believed to be the core of one's personality and values.