To reduce the risks associated with accepting fax responses to requests for confirmations of accounts receivable, an auditor most likely would
a. Examine the shipping documents that provide evidence for the existence assertion
b. Verify the sources and contents of the faxes in telephone calls to the senders
c. Consider the faxes to be nonresponses and evaluate them as unadjusted differences
d. Inspect the faxes for forgeries or alterations and consider them to be acceptable if none are noted
Ans: b. Verify the sources and contents of the faxes in telephone calls to the senders
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Which of these is considered least important when appraising old residences?
a. The original cost of the residence. b. The purpose of the appraisal. c. The physical condition of the structure. d. The suitability of the residence to the site.
In a just-in-time environment, costs associated with product movement and storage typically decrease, whereas costs of inspection and queue time typically increase
Indicate whether the statement is true or false