You Were Surprised to Note That Approximately 95% of Returned

question 15

Multiple Choice

You were surprised to note that approximately 95% of returned positive accounts receivable confirmation requests indicated that the customers thought that they owed a larger balance than the amount that had been printed by your client on the confirmation.This might be explained by the fact that:

• A)The cash receipts journal was closed before year-end.
• B)The cash receipts journal was held open after year-end.
• C)There are many unrecorded liabilities.
• D)The sales journal was held open after year-end.

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Definitions:

Motives

Internal drives or reasons that prompt individuals towards specific actions or behaviors.

Critical Thinking

The process of analyzing facts to make a judgment.

Objectivity

The practice of maintaining impartiality and neutrality, avoiding personal biases or emotions, in order to provide unbiased and factual observations or decisions.

Creativity

The ability to produce original and valuable ideas or things.