Communication Addressed to the Debtor Requesting Him or Her to Confirm

question 46

Multiple Choice

Communication addressed to the debtor requesting him or her to confirm whether the balance as stated on the communication is correct or incorrect is a

• A) representation letter.
• B) negative confirmation.
• C) bank confirmation.
• D) positive confirmation.

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Definitions:

Limited Partnership

A partnership consisting of at least one general partner and one or more limited partners, with limited liability for the latter.

Attract Capital

The act of drawing investment funds or resources towards a business, project, or idea, typically through the promise of profit or other financial gains.

Corporation

A legal entity that is separate and distinct from its owners, providing limited liability protection to its shareholders.

Investors

Individuals or entities that allocate capital with the expectation of receiving financial returns.