Capital market instruments include

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 not considered cash for financial reporting purposes?

a. Petty cash funds and change funds b. Money orders, certified checks, and personal checks c. Coin, currency, and available funds d. Postdated checks and I.O.U.'s