When Trade Receivables Is a Significant Account in an Entity's

question 39

True/False

When trade receivables is a significant account in an entity's balance sheet,the two audit assertions that are considered most important are existence and valuation and allocation.

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Definitions:

People Sleep

A necessary biological process for humans, involving resting states where consciousness is suspended and the body can repair and regenerate.

Be Conscious

To be aware of one's own existence, sensations, thoughts, and surroundings.

White Wall

A structural barrier painted or finished in white, often used as a simplistic and clean background or space delimiter.

Sound Direction

The perception of the origin of a sound source, typically determined by the ears and brain analyzing the sound's timing and intensity.