Question: A customer reply on a positive confirmation says We dispute the $ 2 5 0 charge since we did not receive the goods. .

A customer reply on a positive confirmation says "We dispute the $250 charge since we did not receive the goods." . This response to a confirmation
provides evidence of existence.
does not provide evidence of existence because the customer may refuse to pay the $250 charge.
provides evidence that the account was understated.
provides evidence that the account should be written off.
A customer reply on a positive confirmation says

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

1. When auditing financial statements of a private company, the minimum work an auditor must perform in connection with a company's internal control is best described by which of the following...

Q:

A customer reply on a positive confirmation says: We dispute the $ 2 5 0 charge since we did not receive the goods. This response to a confirmation:a ) provides evidence that the account was...

Q:

A customer reply on a positive confirmation says " We dispute the $ 2 5 0 charge. We believe it is excessive." This confirmation provides evidence that the account was understated. provides evidence...

Q:

A customer reply on a positive confirmation says " We dispute the $ 2 5 0 charge. We believe it is excessive." This confirmation provides evidence that the account was understated. provides evidence...

Q:

A customer reply on a positive confirmation says "We dispute the $250 charge. We believe it is excessive." This confirmation: 6 Multiple Choice provides evidence of existence. provides evidence that...

Q:

A customer reply on a positive comfinmation says " We dispute the $ 2 5 0 charge since we did not receive the goodse" . This response to a confirmation provides evidence of existence. provides...

Q:

A customer reply on a positive confirmation of a $ 5 , 0 0 0 invoice says " We dispute $ 7 5 0 of this charge. We believe it is excessive." This confirmation provides evidence of existence. provides...

Q:

Need Analysis of this case - 1) You are the chair of the three-person arbitration panel named to hear this dispute and determine the appropriate outcome. You have convened the panel for a post...

Q:

5 2016. I got my IT guys to turn this round quickly (and a lot of PR work was done with the Regulatory body). The licence was received on Feb 12 2016 and was transmitted to Respondent the same day....

Q:

Argonaut has to account for the acquisition of 100% of the shares of Moe's Lawn Care Limited (MLC) in Argonaut's June 30, 20X9, financial statements, even though MLC's numbers might be subject to...

Q:

In 1 Corinthians, either identify a statement (other than one about slavery or women) that does not appear to be acceptable today and explain why you believe this is so... OR Identify a statement in...

Q:

Hurricane, Inc., is an S corporation. Orleans, Inc., wants to acquire Hurricane for cash. Hurricanes shareholders have a tax basis in their stock of $ 3,000 and Hurricane has assets with a net tax...

Q:

which item will most likely be found in a balance sheet?

Q:

Determine the major differences between U.S. GAAP and IFRS disclosure reporting requirements related to each separately reportable operating segment. Next, give your opinion as to whether either U.S....