Which of the following statements is an auditor most likely to add to the negative form of confirmation of accounts receivable to encourage timely consideration by the recipient?

a. "This is not a request for payment; remittances should not be sent to our auditors in the enclosed envelope."
b. "Report any differences on the enclosed statement directly to our auditors; no reply is necessary if this amount agrees with your records."
c. "If you do not report any differences within 15 days, it will be assumed that this statement is correct."
d. "The following invoices have been selected for confirmation and represent amounts that are overdue."

Ans: c. "If you do not report any differences within 15 days, it will be assumed that this statement is correct."

Business

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The indirect and direct methods use different computations but produce the same amount of net cash flow from operating activities

Indicate whether the statement is true or false

Business

Which of the following initial contact statements should be avoided?

A) May I have some of your valuable time? B) We highly value your opinion and would like to ask you a few questions. C) Would you like to answer a few questions? D) Both A and C should be avoided.

Business