Multiple Choice
When a customer fails to reply to a confirmation and the auditor is unable to obtain other evidence about the existence of the receivable, _______.
A) the auditor must conclude that these balances are 100% misstatements and project the misstatements on the remaining portion of the population
B) the auditor must conclude that these balances are 50% misstatements and project the misstatements on the remaining portion of the population
C) the auditor must conclude that these balances are 100% misstatements and project the misstatements on the remaining portion of the sample
D) the auditor should notify management of the auditor's intention to withdraw from the engagement
Correct Answer:
Verified
Correct Answer:
Verified
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