27. The advantage of using the negative confirmations is that a. larger sample s

Question

27. The advantage of using the negative confirmations is that a. larger sample sizes can be used without increasing the costs above what would have been required for positive confirmations. b. customer's silence proves that the balance is correct. c. less follow-up confirmation requests are required than for positive confirmations. d. the auditor's tolerable misstatement (TM) for accounts receivable balances is low. 28 A common test of balances in a revenue cycle is the inquiry of management about the likelihood of delinquent accounts receivable. This test concerns primarily with which one of the following management assertions? a. Existence or occurrence assertion. c. Presentation and disclosure assertion. b. Valuation assertion. d. Completeness assertion

Explanation / Answer

Answer: 27. The advantages of using the negative confirmations is that

a. larger sample sizes can be used without incresing the costs above what would ave been required for positive confirmations.

Answer. 28. A common test of balances in a revenue cycle is the inquiry of management about the likelihood of delilinquent accounts rreceivable. This test concerns primarily with which one of the following management assertions?

a. Existence or occurrence assertion.

Related Questions

Navigate

• Browse (All)
• Browse 2
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.