Multiple Choice
Which statement is correct with respect to accounts payable confirmations?
A) The negative form is used in most circumstances.
B) Accounts with new suppliers are always confirmed.
C) They are a required auditing procedure.
D) They are more frequently used in situations in which some vendors don't send monthly statements.
Correct Answer:

Verified
Correct Answer:
Verified
Q17: Which of the following audit procedures is
Q18: A major concern of the auditors is
Q19: Which of the following audit procedures is
Q20: When an auditor finds a debit to
Q21: The accounts payable department receives the purchase
Q23: An internal control narrative indicates that an
Q24: To avoid potential errors and fraud a
Q25: Which of the following procedures for detecting
Q26: The confirmation of existing accounts payable proves
Q27: The auditors' search for unrecorded liabilities is