The Form Typically Used to Confirm Accounts Payable

question 56

Multiple Choice

The form typically used to confirm accounts payable:

• A)Does not require a response from the vendor.
• B)Confirms the balance recorded by the client at year-end.
• C)Requires the vendor to indicate the amount of the payable.
• D)Is the same as the form used to confirm accounts receivable.

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Definitions:

Work-Related Decision

A choice or judgment made in the context of one's employment or job responsibilities.

Adam Smith

An 18th-century Scottish economist and philosopher best known for his theories on free market economies, depicted in "The Wealth of Nations."

Profit

The financial gain that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Mechanistic Organization

A highly structured, rigid, and bureaucratic form of organization based on centralized authority and a hierarchical line of command.