Question: An auditor should perform alternative procedures to substantiate the existence of accounts receivable when _ _ _ _ _ _ _ _ . there is

An auditor should perform alternative procedures to substantiate the existence of accounts receivable when ________.
there is no response to a positive confirmation request
there is no response to a negative confirmation request
collectability of the receivables is in doubt
pledging of the receivables is probable

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:

PART 2 Salmons Stores operates a national chain of women's apparel stores. Five thousand copies of an expensive four-color sales catalog have been printed, and each catalog includes a coupon that...

Q:

1. The auditor wants to gain assurance that all telephone orders received were shipped and billed in a timely fashion. Which of the following audit procedures would be most effective in meeting the...

Q:

QUESTION 3 Which of the following is less likely to be typically considered as an alternative procedure to handle non-responses to accounts receivable confirmation requests? a) Examine the bills of...

Q:

17. Internal control over marketable securities is enhanced when A. purchases and sales of securities are recorded by the custodian. B. securities on hand are held under joint control of two or more...

Q:

1. For the control activities to be effective, employees maintaining the accounts receivable subsidiary ledger should not also approve a. Employee overtime wages. b. Credit granted to customers. c....

Q:

Negative confirmation of accounts receivable is less effective than positive confirmation of accounts receivable because: (a) A (b) (c) (d) majority of customers usually do not want to take the time...

Q:

i nedd your help nowwe Control over the receipt of cash sales is best achieved when two or more employees participate in each transaction True False An auditor should perform alternative procedures...

Q:

8. Confirmation of accounts receivable addresses which of the assertions about account balance? A) Occurrence. B) Existence. C) Completeness. D) Cut-off. 9. Which of the following would indicate the...

Q:

17. In the context of the fraud risk triangle, which of the following would not be considered a motivation to commit fraud? A. Personal financial problems. B. Share-based remuneration programs. C....

Q:

An auditor should perform alternative procedures to substantiate the existence of accounts receivable when: a. The customer responds that the goods were returned b. No reply to a negative...

Q:

An auditor should perform alternative procedures to substantiate the existence of accounts receivable when a. No reply to a positive confirmation request is received. b. No reply to a negative...

Q:

For the discussion this week, go to Yahoo Finance and look up Microsoft (MSFT) Answer the following information about Microsoft Select the Income Statement link Identify the following Total Revenue...

Q:

Amazon Beverages produces and bottles a line of soft drinks using exotic fruits from Latin America and Asia. The manufacturing process entails mixing and adding juices and coloring ingredients at the...

Q:

For your initial post, address the following: How did Luckin Coffee s overall management strategy of long - term liabilities and equity contribute to unethical, fraudulent behavior? Which management...

Q:

Hugo decides to buy his Christmas gifts on Black Friday. To simplify his life, he is giving his 10 closest friends scarves for Christmas and everyone else Christmas cards. Hugo is willing to pay up...