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Auditing standards define a confirmation as the "process of obtaining and evaluating a direct communication from a third party in response to a request for information about a particular item affecting financial statement assertions." What are the two assertions for which confirmation of accounts receivable balances provides primary evidence. Select one of the below options and EXPLAIN your reasons why you selected that option.
(a) Completeness and Valuation
(b) Valuation and Rights and Obligations.
(c) Rights and obligations and existence.
(d) Existence and Completeness
four flags is a retail department store. on january 1 2012 four flags accountants used the following data to develop
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What role does an internal auditor play in regards to a certified audit
Calculate the company's payable turnover and days payable outstanding ( DPO)
whitlaw corporation has 150000 of gross pro?t on sales operating expenses of 60000 excluding cost recovery 4000
The company has no beginning or ending inventories. A total of 20,000 units were produced and sold last month. How many units would the company have to sell to attain the target profit of $150,000?
becker industries is considering an all equity capital structure against one with both debt and equity. the all equity
Historic cost should be replaced by an alternative measurement base in order to make financial statement more useful. Critically discuss this statement, concluding with whether or not you agree with it.
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assume that you have been appointed as the speaker of the house. you must deliver a speech about the current state of
Section 351 allows the tax-free creation of a corporation, or, rather, the tax free contribution of money or property to a corporation in exchange for stock in that corporation.
axle and wheel manufacturing currently produces and sells 1000 axles per month. its revenue is 125000 per month. the
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