When Accounts Receivable Are Confirmed at an Interim Date,auditors Need

question 72

Multiple Choice

When accounts receivable are confirmed at an interim date,auditors need not be concerned with

• A) Obtaining a summary of receivables transactions from the interim date to the year-end date.
• B) Obtaining a year-end trial balance of receivables, comparing it to the interim trial balance, and obtaining evidence and explanations for large variations.
• C) Sending negative confirmations to all the customers as of the year-end date.
• D) Considering the necessity for some additional confirmations as of the balance sheet date if balances have increased materially.

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Definitions:

Software Packages

a collection of software and related data that provides a specific function or set of functions.

Minimum Requirements

The least conditions that must be fulfilled or complied with to achieve a specific goal or maintain a desired standard.

Speech Recognition Technology

Technology that converts spoken language into text or commands, enabling computers to understand and process human speech.

Transcribing Providers' Notes

The act of converting the spoken words of healthcare providers into written, structured documentation for medical records.