When an owner of a warrant exercises the warrant, he is providing money to the company (which sold the warrant).

Accounts payable (A/P) confirmations are generally used less frequently than accounts receivable confirmations since

A) other procedures such as the search for unrecorded liabilities are generally very effective B) A/P confirmations generally have lower response rates than account receivables confirmations C) A/P confirmations do not address the existence assertion D) A/P confirmations do not address specific audit assertions

Which of the following is considered to be a routine message?

A) Replying to a client that you will not have their project completed on time B) Requesting an employee to minimize the use of cellphone in office hours C) Instructing employees on filling out a new form D) Announcing that next Saturday will be a working day E) Requesting the team to not apply for any leaves for a month