In the Audit of Accounts Receivable,the Most Important Emphasis Should

question 74

Multiple Choice

In the audit of accounts receivable,the most important emphasis should be on the

• A) Completeness assertion.
• B) Existence assertion.
• C) Rights and obligations assertion.
• D) Presentation and disclosure assertion.

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Definitions:

Ritz-Carlton

A luxury hotel brand known for its high level of service quality and customer care, operating globally under the Marriott International portfolio.

Disposable Income

The financial resources that remain for saving and spending in households, following the deduction of income taxes.

State and Federal Income Taxes

Taxes imposed on individuals and businesses by state and the federal government based on the income earned within the tax year.

Necessities

Essential goods or services required for basic living and sustaining human life, often including food, water, shelter, and clothing.