Audit Procedures for Accounts Receivable

question 24

Essay

Audit procedures for accounts receivable
In the process of gathering and evaluating evidence,documentation is derived in various forms.Rank the following types of evidence in the audit of Accounts Receivable from most persuasive to least persuasive and provide explanations for your decision.
oral st atement s from management that the accountsre cervable are faifly presentec confirmations receivedfrom customers
deposit slips subsequent to ye ar end showing deposits by cust omer name copies of sales invoices

---

Definitions:

Strategic Reasons

The underlying motives or rationales that guide a company's decisions and actions to achieve long-term objectives and competitive advantage.

Speculative Reasons

Motivations for making investments based on the expectation of substantial returns in the future, despite the risk of significant losses.

Intent to Convert

The expressed or implied intention of a holder of a convertible security or instrument to change it into a different form, usually into shares of stock.

Pension Funds

Investment pools that collect and invest contributions from participants to finance retirement benefits.