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When the client’s internal control are good, internal documents are more reliable than external True False Whenever practical and reasonable, the confirmation of accounts receivable is required of CPAs. True False Confirmations are ordinarily not used to verify individual transactions such as sales True False Of the three types of confirmations used by auditors, the most reliable type is the positive

When the client’s internal control are good, internal documents are more reliable than external True False Whenever practical and reasonable, the confirmation of accounts receivable is required of CPAs. True False Confirmations are ordinarily not used to verify individual transactions such as sales True False Of the three types of confirmations used by auditors, the most reliable type is the positive

Auditing: A Risk Based-Approach (MindTap Course List)
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter3: Internal Control Over Financial Reporting: Responsibilities Of Management And The External Auditor
Section: Chapter Questions
Problem 16CYBK
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  1. When the client’s internal control are good, internal documents are more reliable than external
    1. True
    2. False
  2. Whenever practical and reasonable, the confirmation of accounts receivable is required of CPAs.
    1. True
    2. False
  3. Confirmations are ordinarily not used to verify individual transactions such as sales
    1. True
    2. False
  4. Of the three types of confirmations used by auditors, the most reliable type is the positive conformation with the information to be confirmed included on the form.
    1. True
    2. False
  5. Analytical procedures are required during the planning and completion phases on all financial statements audits.
    1. True
    2. False
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