Multiple Choice
The auditor decided to test accounts payable by sending open-ended (blank) confirmations to selected vendors.The auditor's best approach in selecting the vendor accounts to confirm is to
A) Select vendor accounts with large balances.
B) Select vendor accounts at random in order to apply a statistical sampling procedure.
C) Select vendor accounts based on the number of purchases from vendors during the year.
D) Select vendor accounts that are past due.
Correct Answer:
Verified
Correct Answer:
Verified
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